Paramount Skydance sweetens WBD offer as it vies to topple Netflix deal

Paramount Skydance on Tuesday sent a sweetened version of its $30 per share all-cash offer to Warner Bros.Discovery’s board as its battle to topple Netflix’s acquisition deal heats up.The revised offer includes an agreement to pay the $2.8 billion termination fee to Netflix, as well as a “ticking fee” for WBD shareholders of 25 cents a share — or $650 million — for each quarter the transaction has not closed beyond Dec.

31, 2026.In a letter to WBD’s board, Paramount also pledged to fully reimburse a potential $1.5 billion in debt refinancing, if incurred.“The additional benefits of our superior $30 per share, all-cash offer clearly underscore our strong and unwavering commitment to delivering the full value WBD shareholders deserve for their investment,” Paramount Skydance CEO David Ellison said Tuesday.“We are making meaningful enhancements – backing this offer with billions of dollars, providing shareholders with certainty in value, a clear regulatory path, and protection against market volatility.”Paramount, which has repeatedly cast doubt on Netflix’s ability to achieve regulatory clearance, said it complied with a second request for information from the DOJ on Monday and secured clearance for its tender offer from foreign investment authorities in Germany last month.Warner Bros.Discovery confirmed Tuesday that it received a copy of the amended offer, adding that its board members will review and consider the new proposal.WBD declined to comment.

Netflix did not immediately respond to The Post’s request for comment.In December, Netflix agreed to pay $27.75 a share in cash in a deal worth $72 billion to acquire WBD’s studio and streaming business – potentially creating a Hollywood mammoth that owns everything from “Stranger Things” to the “Harry Potter” franchise.While Paramount is seeking to acquire the entirety of Warner Bros.Discovery, Netflix’s deal hinges on the successful spin-off of Discovery Global, which inclu...