Paramount Reaffirms $30 A Share Cash Offer For Warner Bros. Discovery

Core Viewpoint - Paramount Skydance has reaffirmed its all-cash offer of $30 per share for Warner Bros. Discovery (WBD), asserting that this offer is superior to WBD's current agreement with Netflix [1][3]. Group 1: Offer Details - Paramount's offer is fully financed and includes a personal guarantee from Larry Ellison for the equity portion, addressing concerns raised by WBD [2]. - The offer of $30 per share is straightforward to value, contrasting with the uncertain components of the Netflix deal, which has decreased in total value since its announcement [3]. Group 2: Comparison with Netflix Deal - The Netflix transaction initially offered WBD shareholders $23.25 in cash, $4.50 in Netflix stock, and a share in the pending spin-off of Discovery Global, but the current value is estimated at $27.42, which is lower than Paramount's offer [3][4]. - Paramount emphasizes that its offer provides greater value and a more certain path to completion for WBD shareholders compared to the Netflix deal [5]. Group 3: Engagement with WBD - Paramount has expressed its commitment to engaging with WBD shareholders regarding the merits of its offer and advancing the regulatory review process [5].