Paramount Skydance Comments on Warner Bros. Discovery Board's Determination
Paramount Skydance Corporation has issued a statement in response to the Warner Bros. Discovery board's determination that Paramount's revised offer of $31 per share could reasonably lead to a superior proposal.
Paramount Skydance's Response to WBD Board's Announcement
Paramount Skydance Corporation (NASDAQ: PSKY) has released a statement following the announcement by the board of Warner Bros. Discovery, Inc. (NASDAQ: WBD) that Paramount's revised offer to acquire WBD at $31 per share in cash for 100% of the company could reasonably be expected to lead to a 'Company Superior Proposal' under the terms of WBD's merger agreement with Netflix, Inc. (NASDAQ: NFLX). Paramount welcomed this determination and expects to continue constructive engagement with WBD.
Details of Paramount's Revised Offer
Paramount's revised offer includes the following: a purchase price of $31.00 per WBD share in cash, an acceleration of the daily 'ticking fee' from $0.25 per quarter starting October 1, 2026, an increase in regulatory termination fees to $7 billion, reaffirmed payment of $2.8 billion in termination fees due to Netflix, elimination of the potential $1.5 billion financing cost associated with WBD's debt exchange offer, and a commitment to provide additional equity financing as needed. The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act applicable to Paramount's acquisition of WBD expired on February 19, 2026, at 11:59 PM.
