Warner Bros: Netflix does not relaunch the offer, Paramount in pole position

Netflix it will not increase its offer for Warner Bros. Reuters made this known by reporting the statement from the US company itself. “We have always been disciplined and the asking price to match Paramount Skydance’s latest offer makes the deal no longer financially attractive, so we refuse to match the offer,” the streaming giant said in a statement.

With Netflix’s decision not to relaunch, the long negotiation now enters a new phase and barring unexpected developments, Paramount Skydance will remain thesingle buyer in campo per Warner Bros.

Paramount is the only one in the running

Without a counterproposal from Netflix, Warner Bros. Discovery’s board of directors is now free to end its deal with the streaming giant and move forward with Paramount.

The latest offer, made last Monday, included a purchase price of $31.00 per share in cash, a one-dollar increase from the previous offer, which had valued the company at about $108 billion.

Paramount also offered a termination penalty of $7 billion if the deal doesn’t close for regulatory reasons, and agreed to cover the $2.8 billion fee Warner Bros. Discovery would owe Netflix if it backed out of the deal.

The proposal also includes a commitment from the Oracle founder Larry Ellisonto contribute additional financing as necessary to support the solvency requirements of Paramount’s lending banks.