Paramount Skydance has sweetened its hostile $30 per share all-cash offer for Warner Bros. Discovery (WBD), aiming to beat Netflix’s bid. The improved offer includes a “ticking fee” of $0.25/share per quarter (roughly $650 million quarterly) payable if regulatory approval delays closing past 2026, signaling confidence. Paramount will also cover WBD’s $2.8 billion termination fee to Netflix and eliminate $1.5 billion in refinancing costs. The deal is backed by $43.6 billion in equity and $54 billion in debt. RedBird Capital, a Paramount partner, believes the amendments address WBD’s concerns and encourages engagement. They are prepared to appeal directly to shareholders if WBD rejects the offer.
Paramount sweetens WBD bid, stops short of raising value
