WASHINGTON (dpa-AFX) - Paramount Skydance has increased its proposed breakup fee in its bid to acquire Warner Bros. Discovery, raising the amount from $2.1 billion to $5 billion, according to Bloomberg. The breakup fee would be payable to Warner Bros. if the two companies reach an agreement that ultimately fails to close.
The revised proposal comes as Paramount Skydance pursues an all-cash offer for Warner Bros. Discovery. The bid is primarily backed by the Ellison family, with additional financial support from three Middle Eastern sovereign wealth funds and debt financing provided by Apollo Global Management.
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