Feb. 10 (UPI) -- Paramount Skydance announced enhancements to its offer to buy Warner Bros. Discovery as it tries to woo shareholders away from Netflix.
Paramount added a 25-cent-per-share ticking fee, adding up to $650 million cash value per quarter that the transaction doesn't close beginning in January 2027. It also said it would pay the $2.8 billion termination fee that would be due to Netflix.
The sweetening of the Paramount deal is the latest in the ongoing battle against Netflix to buy the company, which includes Warner Bros. Studios, HBO and HBO Max, among other titles. WBD shareholders must vote to choose between Netflix and Paramount, and the merger must pass federal scrutiny.
In October, Warner Bros. said it was open to offers after getting unsolicited ones. On Dec. 5, after a bidding war between Netflix and Paramount Skydance, Warner Bros. said it would accept Netflix's offer.
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