Paramount's Warner Bros. bid hits $32 per share
Paramount Skydance have bumped their offer to buy Warner Bros. Discovery up to $32 per share, hoping to outbid rivals in a fast-changing entertainment world.
This new proposal is a step up from their earlier $30-per-share offer and comes as big players scramble for control of iconic franchises.
Larry Ellison joins the party, bringing in over $40 billion
This time, Oracle's Larry Ellison is backing the deal with over $40 billion in equity, which helps calm earlier money worries.
The offer also promises a 25-cent-per-share quarterly fee starting at an unspecified date—and even covers Netflix's hefty $2.8 billion breakup fee if things fall through.
Warner's $82.7 billion deal with Netflix is ticking time bomb
Warner Bros. had already set up an $82.7 billion deal with Netflix, including plans to spin off cable channels like CNN into Discovery Global.
Netflix gave Warner Bros. a short exclusivity window that just ended, so now there's a four-day period where Netflix can match Paramount's new bid if it wants.
Experts suggest Paramount might need to go even higher
Paramount's move puts major franchises on the line—but experts say they might need to go even higher (think $34 per share) before a shareholder vote (date not specified in the source).
If Discovery Global spins off as planned, it could make this whole deal even sweeter by boosting share value further.