Instant View: Paramount adds sweeteners to Warner Bros bid

Core Viewpoint - Paramount Skydance has enhanced its bid for Warner Bros Discovery by offering additional cash for delays and agreeing to cover the breakup fee owed to Netflix if the deal fails to close this year [1][2]. Group 1: Analyst Opinions - Analysts believe that the latest adjustments to Paramount's offer do not significantly change the situation, as WBD shareholders are likely to be swayed only by a substantial increase in the current $30 per share offer [1]. - The updated offer from Paramount addresses key concerns of WBD shareholders regarding regulatory approval timelines and management's demand for coverage of the breakup fee with Netflix, although the per-share price remains unchanged [2]. - The revised offer increases pressure on WBD management to justify continuing with Netflix's lower bid, as Paramount's offer is perceived as more strategic [3]. Group 2: Market Sentiment - The sweetened deal is unlikely to convince WBD to favor Paramount over Netflix, as analysts suggest that Paramount's tactics have not included raising the bid price, which is seen as essential for swaying WBD and its investors [4]. - Paramount's best chance to gain WBD's favor may depend on external regulatory actions that could block Netflix's bid [4].