Warner Bros. Discovery will restart talks with Paramount — potentially setting up a bidding war with Netflix
Warner Bros. Discovery announced Tuesday it will restart talks with Paramount Skydance following the media giant’s revised offer – potentially heating up a bidding war with Netflix once again.
Warner Bros. Discovery announced Tuesday it will restart talks with Paramount Skydance following the media giant’s revised offer – potentially heating up a bidding war with Netflix once again.
Paramount last week sweetened its $30 per share all-cash offer with an agreement to pay the $2.8 billion termination fee to Netflix, as well as a “ticking fee” for WBD shareholders worth $650 million.
WBD said Tuesday that a Paramount representative implied the company was also willing to up its offer to $31 a share if Warner engaged in meaningful deal talks – after previously accusing the company of not giving PSKY a fair chance against Netflix.
In December, Netflix agreed to pay $27.75 a share in cash in a deal worth $72 billion to acquire WBD’s studio and streaming business – potentially creating a Hollywood mammoth that owns everything from “Stranger Things” to the “Harry Potter” franchise.
Warner Bros Discovery restarts Paramount Skydance talks after revised $30/share offer, including $2.8B Netflix termination fee and $650M ticking fee for shareholders. Potential $31/share bump if talks heat up, rivaling Netflix's $27.75/share $72B deal.