Paramount Increases Cash Offer to Acquire Warner Bros. Discovery

(MENAFN) US media company Paramount has increased its bid to purchase all outstanding shares of Warner Bros. Discovery (WBD), offering $30 per share in cash, according to reports.

The company stated that if the acquisition is delayed past December 31, it will pay WBD shareholders a “ticking fee” of $0.25 per share each quarter, totaling approximately $650 million, reflecting Paramount’s confidence in securing regulatory approval.

“The additional benefits of our superior $30 per share, all-cash offer clearly underscore our strong and unwavering commitment to delivering the full value WBD shareholders deserve for their investment,” Paramount CEO David Ellison said. “We are making meaningful enhancements – backing this offer with billions of dollars, providing shareholders with certainty in value, a clear regulatory path, and protection against market volatility.”

Paramount also confirmed it will cover the $2.8 billion termination fee owed to Netflix.

The bid builds on Paramount’s initial offer announced on December 8 last year, valuing WBD at a total enterprise value of $108.4 billion. The move comes after Netflix reached a separate agreement to acquire Warner Bros.’ film and TV studios, including HBO and HBO Max, for an equity value of $72 billion and a total enterprise value of $82.7 billion, announced on December 5, 2025.

WBD’s board recommended shareholders reject Paramount’s offer in favor of the Netflix agreement on December 17, 2025.

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