UPDATE 1-Paramount revises offer for Warner Bros with 25-cent ticking fee
Paramount Skydance Corporation Class B PSKY | 9.52 | +2.92% |
Warner Bros. Discovery, Inc. Series A WBD | 27.32 | -0.62% |
Adds details in paragraph 2
Feb 10 (Reuters) - Paramount PSKY.O said on Tuesday it has revised its $30 per share all-cash bid for Warner Bros Discovery WBD.O with a 25 cents per share ticking fee for every quarter the transaction is not closed beyond December 31, 2026.
This would equal to about $650 million in cash value each quarter. Paramount also said it will fund the $2.8 billion termination fee that Warner Bros owe Netflix if the deal falls through.
Warner Bros Discovery and Netflix did not immediately respond to requests for comment.
