Warner Bros Discovery’s board could announce a decision as early as Wednesday on Paramount Skydance’s $108.4 billion takeover bid, with the board likely to advise shareholders to vote against the offer, according to sources familiar with the matter.

The decision to recommit to Netflix’s buyout offer would mark the latest twist in the race for assets that include Warner Bros’ storied film and TV studio, and its extensive film and television library, whose portfolio includes classics ranging from “Casablanca” and “Citizen Kane” to contemporary favorites like “Harry Potter” and “Friends,” HBO and the HBO Max streaming service.

A Warner Bros Discovery spokesman declined to comment.

The winner will gain a big advantage in the streaming wars by locking up a deep content library that has long been an acquisition target.

Netflix earlier this month emerged victorious with a $27 cash-and-stock bid for Warner Bros’ non-cable assets.

Christmas Sale – Get 40% off New DailyWire+ Annual Memberships

Paramount CEO David Ellison then went directly to Warner Bros’ shareholders with a $30-a-share, all-cash bid for the whole company.

In regulatory filings, Paramount has said its bid is superior to Netflix’s offer and would enjoy a clearer path to regulatory approval. Its offer is financed by $41 billion in new equity, which is backed by the Ellison family and RedBird Capital, and $54 billion of debt commitments from Bank of America, Citi and Apollo.

Jared Kushner’s Affinity Partners, which was one of Paramount’s financing partners, is exiting the battle, according to Bloomberg.

Paramount and Affinity Partners did not immediately respond to Reuters’ request for comment.

(Reporting by Milana Vinn in New York and Dawn Chmielewski in Los AngelesEditing by Ken Li, Dawn Kopecki and Nick Zieminski)

President Donald Trump expanded his travel ban to include five additional countries following a wave of terror attacks across the globe.

Trump applied travel restrictions to Afghanistan, Myanmar, Chad, the Republic of Congo, Equatorial Guinea, Eritrea, Haiti, Iran, Libya, Somalia, Sudan, and Yemen, and heightened restrictions on visitors from Burundi, Cuba, Laos, Sierra Leone, Togo, Turkmenistan, and Venezuela in June.

He expanded the ban Tuesday to include Burkina Faso, Mali, Niger, South Sudan, and Syria, according to the White House. Travelers with documents from the Palestinian authority will also be banned from entry.

“The United States must exercise extreme vigilance during the visa-issuance and immigration processes to identify, prior to their admission or entry into the United States, foreign nationals who intend to harm Americans or our national interests,” the president’s proclamation states.

“The United States Government must ensure that admitted aliens do not intend to threaten its citizens; undermine or destabilize its culture, government, institutions, or founding principles; or advocate for, aid, or support designated foreign terrorists or other threats to our national security,” it adds.

It comes just days after a series of devastating terror attacks. The most recent of the attacks occurred in Sydney, Australia, where a father and son inspired by ISIS opened fire on Jewish community members celebrating Hanukkah on the beach, killing 15 individuals.

On Saturday, it emerged that two U.S. Army soldiers and a civilian interpreter — also American — had been killed in Syria by ISIS.

Last month, Afghan national Rahmanullah Lakanwal, 29, who entered the U.S. in 2021 as part of President Joe Biden’s “Operation Allies Welcome,” allegedly shot two National Guardsmen who were deployed to Washington, D.C., as part of the Trump administration’s crime crackdown.

One of the soldiers, Specialist Sarah Beckstrom, 20, of the West Virginia National Guard, tragically succumbed to her injuries a day after the attack. Her colleague, West Virginia National Guardsman Andrew Wolfe, 24, is still recovering from his injuries.