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Paramount has sweetened its $108bn bid for Warner Bros Discovery, offering shareholders an additional fee that will compensate them if regulators delay completion of the transaction.
Under the revised terms, tied to its $30-a-share all-cash offer, WBD investors would receive extra quarterly payments should the deal fail to close by the end of 2026, effectively shifting some regulatory risk back on to Paramount.
The company said the enhanced proposal underscores its confidence in securing approvals and improves certainty for shareholders, as antitrust scrutiny of mega-media combinations intensifies on both sides of the Atlantic.
The move is the latest attempt by Paramount, led by billionaire David Ellison, to gatecrash Netflix’s agreed $83bn deal with WBD for its studio and streaming assets, raising the stakes in a high-profile battle for control of one of Hollywood’s most coveted content libraries.
This is a developing story