# Mergers & Acquisitions

Paramount Turns Up the Heat on WBD Deal — Offers Quarterly ‘Timing Fee’ and to Cover Netflix Break Fee

Paramount kept its $30-per-share bid for Warner Bros. Discovery but sweetened the offer with a 25-cent per‑share quarterly ‘‘timing fee’’ beginning in 2027 and pledged to cover Warner’s $2.8 billion break fee if the studio abandons its larger Netflix deal. The enhancements aim to position Paramount as a lower‑risk, fully financed buyer at a time when regulators are scrutinising Netflix’s $82.7 billion content-and-streaming proposal.