Paramount has enhanced its hostile offer to acquire all of Warner Bros. Discovery, including agreeing to pay the $2.8 billion termination fee Warner would owe its chosen suitor, Netflix, should that deal collapse.
In a regulatory filing, Paramount also said it was adding a “ticking fee” of 25 cents per share, which it would pay to Warner shareholders for each quarter its deal hasn’t closed, starting in January 2027.
“If we don’t get regulatory approval by the end of this year, we will pay $650 million each quarter thereafter until we get approval,” Gerry Cardinale, head of RedBird Capital Partners, which is backing Paramount’s offer for Warner, told The Wall Street Journal. “We are putting additional money where our mouth is.”
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