Paramount's new $108.4B WBD bid includes Netflix breakup fee
Paramount Skydance has raised its takeover bid for Warner Bros. Discovery (WBD) to $30 per share—pushing the total deal value to a huge $108.4 billion.
They're even offering to cover Netflix's $2.8 billion breakup fee, plus throwing in some extra cash perks for shareholders.
Proposal backed by massive equity and debt commitments
This new proposal is backed by $43.6 billion in equity commitments from the Ellison family and RedBird Capital Partners, plus $54 billion in debt commitments from Apollo, Bank of America and Citigroup.
Paramount's also helping WBD dodge $1.5 billion in debt costs, making their offer even sweeter.
Meanwhile, WBD's board still prefers Netflix's lower offer
Even though WBD's board still prefers Netflix's lower $82.7 billion offer, they'll review Paramount's bid before shareholders vote this April.
It all comes down to who gets control of HBO, movie studios, and those must-watch streaming platforms—so expect more twists ahead!