Paramount Skydance Boosts Warner Bros. Discovery Offer to $30 with Ticking Fee
Paramount Skydance sweetened its $30 per share bid for Warner Bros. Discovery by adding a $0.25-per-quarter ticking fee for regulatory delays and agreeing to pay the $2.8 billion Netflix termination fee. Secures a $27.75 floor and 8% upside, with catalysts on Feb. 26 earnings, Mar. 2 expiry and April vote.
1. Offer Sweetener Details
Paramount Skydance has raised its takeover proposal for Warner Bros. Discovery to $30 per share by implementing a ticking fee of $0.25 per quarter for any regulatory approval delays and committing to pay the full $2.8 billion fee to terminate the existing Netflix agreement.
2. Timeline and Catalysts
Key upcoming milestones include Warner Bros. Discovery’s Q4 earnings release on Feb. 26, the tender offer expiration on Mar. 2 and a shareholder vote slated for April 2026, which will determine whether shareholders approve the enhanced bid and capture the anticipated upside.