Dec. 4 at 6:07 AM
$PSKY $WBD $NFLX Paramount Skydance ups breakup fee to
$5 billion in bid for Warner Bros. Discovery - Bloomberg.
Paramount Skydance (PSKY) has more than doubled the proposed breakup fee in its offer to acquire Warner Bros. Discovery (WBD) to
$5 billion, as part of a sweetened proposal designed to outshine rival bids, Bloomberg News reported.
The sum would be paid to Warner Bros. if a deal is agreed to but not consummated, the report added.
It’s a sign Paramount has confidence its proposed merger would pass muster with regulators, the sources said, who asked not to be identified because the terms haven’t been made public. Paramount had earlier proposed a
$2.1 billion breakup fee.
Shares of Paramount Skydance (PSKY) and Netflix (NFLX) fell in midday trading on Wednesday as the two media companies emerged as top bidders and are expected to butt heads for Warner Bros. Discovery's (WBD) assets.
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