Paramount Skydance has improved its offer to buy Warner Bros. Discovery. The new bid includes a $2.8 billion payment to Netflix if the deal falls through, and promises increased payments to Warner Bros. Discovery shareholders for each quarter the purchase isn’t completed after January 1, 2027.
It’s doubtful this latest action will change the opinion of Warner Bros. Discovery’s board, as they’ve already expressed support for a competing offer from Netflix.
On Tuesday, David Ellison’s company submitted a new offer to the Warner Bros. Discovery board and indicated a willingness to discuss the terms further.
Hollywood Inc.
Netflix amends Warner Bros. deal to all cash in bidding war
The letter explains that while we’ve offered solutions with the best intentions, we believe discussing them together would help improve them. We’re happy to work with you to fine-tune these solutions and make sure they fully address any concerns you may have, if given the opportunity.
Paramount is still offering $30 per share in cash. On top of a termination fee and a quarterly payment to shareholders of 25 cents per share (around $650 million total), Paramount also plans to cover Warner’s $1.5 billion in financing costs related to its debt exchange.
The company also stated it would allow Warner to restructure its current $15 billion short-term loan.
Hollywood Inc.
Despite a personal pledge from tech billionaire Larry Ellison to finance part of Paramount’s offer, Warner’s board isn’t changing its mind. They continue to fully support the agreement with Netflix.
Ellison stated that the changes to Paramount’s offer highlight their dedication to ensuring Warner Bros. Discovery shareholders receive the full value they are entitled to.
In a statement, the company announced significant improvements to the offer, including billions of dollars in backing. This provides shareholders with a guaranteed value, a straightforward approval process, and safeguards against market fluctuations.
Warner Bros. Discovery has received and will be carefully considering a new offer from Paramount Global, according to a statement released Tuesday.
Despite Paramount Global making an offer to Warner Bros. Discovery shareholders, the Warner Bros. Discovery board still supports the original deal to sell its studios, HBO, and HBO Max to Netflix. They’ve asked shareholders to not take any action regarding Paramount’s offer for now.
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2026-02-10 22:01