Paramount sweetens Warner Bros. Discovery bid with ticking fee and Netflix termination payout
Paramount Global is pushing its hostile bid for Warner Bros. Discovery by keeping a $30-per-share all-cash offer, adding a $0.25-per-share ticking fee for each quarter the deal stays open past December 31, 2026, and agreeing to pay Netflix a $2.8 billion termination fee if Warner Bros. Discovery rejects Netflix’s bid (with Netflix owing Paramount $5.8 billion if it withdraws). The package is backed by roughly $43.6 billion in equity and $54 billion in debt commitments plus a personal guarantee from Larry Ellison, and Paramount has extended the tender offer to February 20 after complying with a DOJ information request.
