Overview
- The board plans to meet next week and is expected to turn down Paramount Skydance’s amended $30‑per‑share all‑cash offer despite Larry Ellison’s $40.4 billion personal guarantee.
- Warner Bros. Discovery continues to back Netflix’s roughly $82.7 billion cash‑and‑stock deal for its studios and streaming businesses, with linear networks slated for a spin‑off as Discovery Global.
- Walking away from the Netflix agreement would trigger a $2.8 billion breakup fee, which the board has weighed alongside concerns about financing certainty and execution risk.
- Paramount’s bid, valuing WBD at about $108.4 billion, raised its reverse termination fee to $5.8 billion and extended its tender offer to January 21, yet it has not increased the $30 price.
- Both pathways face heavy antitrust and political scrutiny, with lawmakers watching closely and the president signaling interest in the outcome.