Paramount Boosts Warner Bid to $31/Share, Eyes Superior Deal Over Netflix
Paramount Skydance has raised its bid for Warner Bros. Discovery to $31 per share (with a 25-cent quarterly ticking fee) plus a $7 billion regulatory termination fee and other funding provisions, in a move that could yield a “superior proposal” to the Netflix deal. WBD’s board says it will continue to evaluate the revised bid and pursue discussions to see if a superior proposal can be reached, while Netflix’s deal remains in effect and remains subject to the usual approvals and a March 20 vote. Netflix did not comment.