Paramount just raised the stakes in the Warner Bros. race
Paramount Skydance Corp. has bumped its breakup fee to $5 billion—more than double their first offer—to show they're serious about buying Warner Bros. Discovery (think: HBO, CNN).
With Netflix and Comcast also in the mix, Warner Bros. is weighing its options and could pick a winner soon.
Why does this matter?
Paramount isn't just bidding—they want all of Warner Bros., while rivals would split things up, which Paramount argues would trigger taxes for Warner Bros.
The Ellison family controls Paramount, with David Ellison as CEO, and has strong political connections, which might help with tricky approvals.
But there's a catch: regulators are worried about Hollywood job cuts and too much power in streaming, even as Netflix reportedly offers more money.
With so much at stake (Warner Bros. wants $75 billion), this deal could shake up what you watch next.