Paramount submits a new offer for Warner Bros in fight with Netflix for storied studio
Associated Press News • • general
Key Points:
- Paramount has raised its hostile takeover offer for Warner Bros. Discovery to $31 per share, up from $30, intensifying competition with Netflix, which previously agreed to buy Warner for $27.75 per share.
- Paramount aims to acquire Warner Bros. in full, including CNN and Discovery networks, while Netflix's bid focuses on the studio and streaming business, leading to a high-stakes bidding war.
- Paramount increased its regulatory termination fee to $7 billion and agreed to pay a "ticking fee" if the deal extends beyond September, signaling strong commitment to its offer.
- Warner Bros. Discovery's board has yet to decide if Paramount's offer is superior to Netflix's, with Netflix having the option to match or revise
