Core Viewpoint - Paramount is enhancing its hostile takeover bid for Warner Bros. Discovery by introducing new fees and extending the deadline for shareholder support [1] Group 1: Bid Details - Paramount is offering Warner shareholders an additional "ticking fee" of 25 cents per share, totaling $650 million for each quarter after December 31 if the deal does not close by year-end [1] - The cash offer remains at $30 per share, with a new tender deadline set for March 2 [1] - Paramount's total bid for Warner is valued at $77.9 billion, with an enterprise value of $108 billion including debt [1] Group 2: Shareholder Support - Recent disclosures indicate a decline in shareholder support, with valid tenders dropping from over 168.5 million shares on January 21 to 42.3 million shares as of Monday [1] - Warner has approximately 2.48 billion shares outstanding, and Paramount needs over 50% to gain control of the company [1]

Core Viewpoint - Paramount Skydance is making a $30 per share cash offer for Warner Bros. Discovery, backed by billionaire Larry Ellison's personal guarantee of $40.4 billion in equity financing, amidst competition from Netflix's agreement to acquire WBD's assets valued at approximately $83 billion [1][2][4]. Group 1 - Paramount Skydance's offer for Warner Bros. Discovery is $30 per share in cash, which is positioned as a hostile bid to rival Netflix's agreement [3]. - The enterprise value of Paramount's offer for WBD is stated to be $108.4 billion, which includes the entirety of WBD's assets, including its TV networks [4]. - Larry Ellison has provided an irrevocable personal guarantee for the equity financing and any damages claims against Paramount, ensuring the backing for the offer [2]. Group 2 - Warner Bros. Discovery has previously agreed to sell its studio and streaming assets to Netflix, raising concerns about the financial backing of Paramount's bid [4]. - WBD's chairman expressed doubts regarding the reliability of Larry Ellison's backing, emphasizing the importance of closing the deal rather than just making an agreement [5]. - Paramount has increased its proposed reverse breakup fee to match that of Netflix's offer, indicating a strategic move to strengthen its bid [3].