The revised Paramount offer included a purchase price of US$31 per share in cash, a US$1 increase from its earlier bid, which valued the company at around US$108 billion.<\/p>\n
Paramount has also offered a US$7 billion ($11.7b) regulatory termination fee should the deal fail to close on regulatory grounds, and agreed to cover the $2.8 billion breakup fee Warner Bros. Discovery would owe Netflix if it walked away from their agreement.<\/p>\n
Crucially, the proposal also includes a commitment from Oracle founder Larry Ellison to contribute additional funding if needed to support solvency requirements from Paramount\u2019s lending banks.<\/p>\n
Ellison is the father of Paramount Skydance CEO David Ellison, a Hollywood producer, and largely financed his son\u2019s takeover of Paramount and his subsequent bid for Warner Bros. Discovery.<\/p>\n
Larry Ellison is also a long-time ally of President Trump, and both Paramount and Netflix have sought to curry favour with the White House.<\/p>\n
Creating headwinds for Netflix, Republican lawmakers came out against the company during the deal process, accusing it of promoting pro-trans content on its platform, something co-CEO Ted Sarandos strenuously denied.<\/p>\n
Just hours before withdrawing from the bidding war, Sarandos was filmed entering the White House on Thursday for talks with officials although not the President, according to CNBC.<\/p>\n
A victory by Paramount would see CNN \u2013 often the target of Trump\u2019s threats and criticism \u2013 pass to Ellison family control, amid criticism that their takeover of Paramount-owned CBS brought personnel changes more to the White House\u2019s liking.<\/p>\n
– Agence France-Presse<\/p>\n","protected":false},"excerpt":{"rendered":"The revised Paramount offer included a purchase price of US$31 per share in cash, a US$1 increase from…\n","protected":false},"author":2,"featured_media":304649,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[74,82625,4995,1040,2748,138,129793,131067,3468,55604,2026,25091,811,2082,71,13313,2250,1073,1094,111,139,69,13692,421,31472,2515,1041,3048,12795,26592,28561,36314,6730],"class_list":{"0":"post-304648","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-after","9":"tag-attractive","10":"tag-away","11":"tag-bid","12":"tag-bros","13":"tag-business","14":"tag-ceding","15":"tag-clearing","16":"tag-deal","17":"tag-deciding","18":"tag-discovery","19":"tag-effectively","20":"tag-financially","21":"tag-for","22":"tag-from","23":"tag-giant","24":"tag-longer","25":"tag-media","26":"tag-netflix","27":"tag-new-zealand","28":"tag-newzealand","29":"tag-nz","30":"tag-offer","31":"tag-paramount","32":"tag-path","33":"tag-raise","34":"tag-rival","35":"tag-said","36":"tag-skydance","37":"tag-takeover","38":"tag-walks","39":"tag-warner","40":"tag-would"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/304648","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=304648"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/304648\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/304649"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=304648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=304648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=304648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}