Warner Bros. Discovery Inc. received an unsolicited tender offer from Paramount Skydance Corp. to acquire all outstanding shares. The Board will review the offer in accordance with the existing agreement with Netflix. This follows the rejection of a previous offer due to inadequate value and risks. The Board is not changing its recommendation regarding the Netflix Merger Agreement at this time. Larry Ellison of Oracle has agreed to guarantee $40.4 billion for the offer. Paramount’s revised proposal offers more flexibility to Warner Bros. Discovery in debt refinancing and operations. The regulatory termination fee has been increased to $5.8 billion.

Read more at Nasdaq: Warner Bros. Discovery Reviews Amended Paramount Skydance Tender Offer Amid Netflix Deal