Warner Bros. Discovery is weighing whether to reopen deal talks with Paramount, which last week submitted a new, improved offer, said two people who are familiar with the matter but not authorized to speak publicly about it.
In December, Warner Bros. Discovery agreed to sell its streaming and studios business to Netflix for $83 billion. At the time, Warner Bros. Discovery rejected a bid by Paramount of $108 billion for the entire company, including the cable business, saying it viewed the deal as more risky than Netflix’s. Since then, Paramount has taken its bid to shareholders and twice made improvements to it, though it has not raised the price per share.
Last week, Paramount addressed some of Warner Bros Discovery’s concerns by agreeing to a pay the $2.8 billion fee that would be owed to Netflix if its deal were terminated as well as agreeing to back Warner Bros. Discovery’s debt costs. It also said it would pay Warner Bros. Discovery’s shareholders around $650 million in cash starting in 2027 for each quarter the deal does not close.
Comments
No comments on this item Please log in to comment by clicking here