CNBC·2026-02-15 22:33Group 1 - Warner Bros. Discovery's board is considering reopening sales talks with Paramount Skydance after receiving an amended offer with improved terms [1] - Paramount's initial hostile bid for Warner Bros. included an all-cash offer of $30 per share, which is higher than Netflix's previous agreement of $27.75 per share [2] - Paramount has introduced a ticking fee of 25 cents per share for any delays in regulatory approval, potentially amounting to approximately $650 million in cash value per quarter until December 31, 2026 [3] Group 2 - Paramount has committed to covering a $2.8 billion termination fee to Netflix if the Warner Bros. deal is terminated, along with eliminating $1.5 billion in potential debt refinancing costs [3] - Both Paramount and Netflix have expressed willingness to increase their bids to secure the Warner Bros. deal, indicating competitive dynamics in the acquisition process [4] - This marks the first time Warner Bros. is evaluating whether Paramount's offer could lead to a better deal or prompt Netflix to enhance its terms [4]