economy
Warner Bros. may reopen sale talks with Paramount following new deal terms, Bloomberg reports
Warner Bros. board members are weighing whether Paramount's sweetened bid may result in a better deal or prompt Netflix to up its offer, Bloomberg reports.
TL;DR
- Warner Bros. Discovery's board is considering reopening sales talks with Paramount Skydance.
- Paramount submitted an amended offer with sweetened deal terms.
- Warner Bros. had previously agreed to sell to Netflix for $27.75 per share.
- Paramount launched a hostile bid promising shareholders $30 per share in an all-cash deal.
- Paramount increased its offer with a ticking fee for regulatory approval delays and agreed to cover Netflix's termination fee.
- Both Paramount and Netflix have indicated willingness to raise their bids.
- This is the first time Warner Bros. is considering Paramount's offer as a way to achieve a better deal or prompt a higher offer from Netflix.