1 week ago
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By WYATTE GRANTHAM-PHILIPS, AP Business Writer
NEW YORK (AP) — Warner Bros. Discovery said that Paramount has raised the price of its takeover offer to $31 per share, in addition to other revisions.
That’s a $1 per share increase from Paramount’s previous offer, which stood at $30 per share since December — when the Skydance owned company launched its hostile bid to challenge a studio and streaming deal Warner had reached with Netflix.
Beyond upping its proposed purchase price, Warner said Tuesday afternoon that Paramount had increased its regulatory termination fee to $7 billion, in case the transaction falls through. Paramount also agreed to move up a previously-promised “ticking fee” payable to shareholders.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
NEW YORK (AP) — Warner Bros. Discovery says it’s reviewing a new takeover offer from Paramount, but it continues to recommend a competing proposal from Netflix to its shareholders in the meantime.
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