Paramount's $30 per share, all-cash offer provides superior value and greater regulatory certainty than Netflix's sliding scale merger consideration which, according to WBD's own preliminary proxy statement filed with the SEC on February 9, ranges from a minimum of $21.23 to a maximum of $27.75 per share in cash (depending on debt levels on Discovery Global at the time of separation) Paramount has enhanced its offer with a $0.25 per share "ticking fee," payable to WBD shareholders for each quarter its transaction has not closed beyond December 31, 2026, underscoring Paramount's confidence in the speed and certainty of regulatory approval for its transaction Paramount will fund $2.8 billion termination fee payable to Netflix and offers solutions to WBD's debt financing costs and obligations Paramount complied on February 9, 2026 with the DOJ's Second Request for Information related to its all-cash tender offer to purchase shares of Warner Bros. Discovery Paramount also secured clearance for its tender offer from the foreign investment authorities in Germany on January 27, 2026 Letter to the WBD Board of Directors details Paramount's amended offer and urges the Board to exercise its contractual right to negotiate with Paramount by declaring that the amended offer could reasonably be expected to result in a superior proposal Paramount reiterates intention to solicit proxies against approval of Netflix transaction at WBD special shareholder meeting PARAMOUNT URGES WBD SHAREHOLDERS TO REGISTER THEIR PREFERENCE FOR PARAMOUNT'S SUPERIOR OFFER WITH THE WBD BOARD OF DIRECTORS BY TENDERING THEIR SHARES TODAY LOS ANGELES and NEW YORK, Feb. 10, 2026 /PRNewswire/ -- Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") today announced it has amended its $30 per share, all-cash tender offer to acquire Warner Bros.
