The Warner Bros. logo is displayed on a water tower at Warner Bros. Studio on September 12, 2025 in Burbank, California.
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Warner Bros. Discovery‘s board is considering reopening sales talks with Paramount Skydance after recently receiving an amended offer with sweetened deal terms, Bloomberg News reported on Sunday, citing unnamed sources.
Warner Bros. in December agreed to sell both its film studio and HBO Max streaming service to Netflix for $27.75 per share. Paramount, which owns CBS and MTV, in December launched a hostile bid for Warner Bros., promising its shareholders $30 per share in an all-cash deal.
Last week, Paramount upped the ante, saying it would add a ticking fee of 25 cents a share to its offer for any delay in regulatory approval of the deal.
The ticking fee would be approximately $650 million in cash value per quarter for every quarter the deal has not closed by Dec. 31, 2026, CNBC.com previously reported.
Paramount also said it will cover a $2.8 billion termination fee paid to Netflix if the Warner Bros. deal is terminated. Paramount also said it will eliminate $1.5 billion in possible debt refinancing costs.
Both Paramount and Netflix have said they would be willing to raise their bids to secure the Warner Bros. deal, Bloomberg reported. However, this is the first time Warner Bros. has considered whether Paramount’s offer could either result in a better deal or prompt Netflix to offer better deal terms, according to the report.
Read the complete Bloomberg report here.
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