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Paramount's Revised Bid Changes Little as Warner Bros. Shareholders Decide If Netflix Bid Is Better

Matthew Dolgin

Dec 22, 2025

With a tender offer to Warner Bros. Discovery shareholders outstanding, Paramount revised details of its bid but maintained the value: $30 in cash per share. Larry Ellison is now personally guaranteeing the equity financing, and Paramount will pay Warner $5.8 billion if it cannot complete the deal.

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Netflix Inc

Paramount's Revised Bid Changes Little as Warner Bros. Shareholders Decide If Netflix Bid Is Better

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