Netflix isn’t buying Warner Bros, Paramount is
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Warner Bros. says Paramount’s latest offer is superior to its current deal with Netflix.
A four-day clock for Netflix to respond just started, but here are the details of the offer that include a starting price of $31 per share and other assurances, like:
“…a $7 billion regulatory termination fee payable by PSKY in the event the transaction does not close due to regulatory matters, payment by PSKY of the $2.8 billion termination fee that WBD would be required to pay to Netflix to terminate the existing Netflix merger agreement, an obligation of Larry J. Ellison and an associated trust to contribute additional equity funding”
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