Warner Bros. Discovery sets a one-week deadline for Paramount to submit its final offer.

After turning down Paramount’s latest acquisition offer, Warner Bros. Discovery has given the entertainment giant led by David Ellison a week to submit its “best and final” proposal. While WBD is reopening talks with Paramount, it emphasizes in a statement that it still prefers Netflix’s $82.7 billion deal to acquire its studio and streaming service.

According to the statement, a representative from Paramount indicated that they would agree to a price of $31 per share if negotiations are reopened, clarifying that this is not their “best and final proposal.” Paramount has been increasing its bid to acquire all of WBD for several weeks, even offering to cover the $2.8 billion termination fee WBD would incur if it walks away from the Netflix deal.

Netflix has provided WBD with a seven-day waiver to negotiate with Paramount in order to “fully resolve” the bidding conflict. The streaming giant also expressed concerns about the “foreign funding behind PSKY’s bid,” which has raised significant national security issues. Netflix referenced a recent letter from Rep. Sam Liccardo (D-CA) to Paramount, questioning the involvement of Middle Eastern partners, including Saudi Arabia’s Public Investment Fund.

WBD shareholders are set to vote on the merger with Netflix on March 20th.

“We continue to believe the Netflix merger is in the best interests of WBD shareholders due to the tremendous value it provides, our clear path to achieve regulatory approval, and the transaction’s protections for shareholders against downside risk,” stated Samuel Di Piazza, Jr., chair of WBD’s board of directors, in the announcement.