Paramount Updates WBD Offer

Paramount has revised its $30-per-share, all-cash offer for Warner Bros. Discovery to include a $0.25-per-share “ticking fee,” payable to WBD shareholders for each quarter its transaction has not closed beyond December 31, 2026.

Among other amendments to the offer, Paramount said it will fund the $2.8 billion termination fee due to Netflix if the Netflix agreement is terminated.

“The additional benefits of our superior $30-per-share, all-cash offer clearly underscore our strong and unwavering commitment to delivering the full value WBD shareholders deserve for their investment. We are making meaningful enhancements—backing this offer with billions of dollars, providing shareholders with certainty in value, a clear regulatory path and protection against market volatility.”

Warner Bros. Discovery confirmed it received the updated offer and said its board will review it before it officially accepts or rejects.