Paramount Skydance submitted a higher acquisition offer for Warner Bros. Discovery late on February 23. The new proposal values the studio at approximately $32 per share. This bid represents an increase from the previous $30-per-share offer.
The revised terms include Paramount Skydance assuming a $2.5 billion breakup fee owed to Netflix. The offer also includes an escalating compensation fee of $650 million per quarter. This fee applies if regulatory approval for the deal is delayed into 2026.