Warner Bros. Discovery (WBD) Faces Bidding War as Paramount Sweetens Offer Amid Netflix Regulatory Scrutiny
Warner Bros. Discovery is reconsidering a $78 billion all-cash acquisition offer from Paramount Skydance, which now includes a $650 million quarterly ticking fee and coverage of WBD's $2.8 billion Netflix breakup penalty. The revised bid, submitted February 10, comes as antitrust regulators intensify scrutiny of Netflix's $82.7 billion streaming dominance play.
Paramount's sweetened terms include debt refinancing costs up to $1.5 billion, creating a strategic advantage over Netflix's embattled proposal. Ancora Holdings' $200 million stake in WBD adds shareholder pressure, though only 42.3 million shares currently favor the Paramount deal. Any renewed negotiations WOULD trigger Netflix's right to match improved offers.