Paramount Skydance Raises Warner Bros. Discovery Bid to $31 Per Share
Paramount Skydance topped its bid for Warner Bros. Discovery with a $31 per share cash offer, added higher regulatory termination fees and a daily ticking fee, prompting WBD’s board to reconsider the Netflix merger and jeopardizing the March 20 shareholder vote. Netflix’s proposed acquisition faces collapse, intensifying bidding competition.
1. Paramount Skydance $31 Cash Offer
Paramount Skydance has raised its cash offer for Warner Bros. Discovery to $31 per share, up from its previous proposal, and included higher regulatory termination fees plus a daily ticking fee to accelerate deal closure pressure on WBD’s board.
2. Board Reconsiders Netflix Deal
WBD’s board is reevaluating its preferred merger with Netflix following the enhanced rival bid, casting doubt on the scheduled March 20 shareholder vote and highlighting the fragility of the Netflix transaction.
3. Bidder Background
Paramount Skydance, led by film producer David Ellison, has pursued Warner Bros. Discovery for nearly six months despite Ellison’s mixed box office track record, underscoring the strategic importance of this acquisition push.