Paramount (PARENT) Boosts WBDBid with Quarterly $0.25 Fee Plus Netflix Breakup Coverage

Paramount Global (PARENT) has sweetened its $30 per share bid for Warner Bros Discovery (WBD) by adding a $0.25 per share quarterly ticking fee from January 1, 2027, to deal closing—amounting to about $650 million per quarter—plus coverage of the $2.8 billion termination fee WBD would owe Netflix if the Paramount deal collapses. The enhancement follows WBD’s rejection of Paramount’s acquisition proposal and its planned special shareholder vote on the Netflix deal, expected by April, to consider the $2.8 billion breakup fee. Both companies seek WBD’s studio power, library and franchises, including "Game of Thrones," "Harry Potter," and DC’s Batman and Superman.