Netflix's $5.8B Breakup Fee & Paramount's Bid Intensify Warner Bros. Battle

• Netflix's $72 billion acquisition of Warner Bros. Discovery includes a $5.8 billion breakup fee if the deal collapses or fails regulatory approval.
• Paramount launched a competing $108.4 billion all-cash offer for Warner Bros. Discovery, including cable networks like CNN, TNT, and TBS.
• Paramount's bid, backed by David Ellison and sovereign wealth funds, claims greater regulatory certainty and maintains theatrical releases.
• Warner Bros. faces a $2.8 billion reverse breakup fee if its shareholders reject Netflix's deal or accept a rival bid.
• The high breakup fees for both Netflix ($5.8B) and Paramount ($5B) highlight the intense bidding war for Warner Bros. Discovery.

Why It Matters: The Warner Bros. bidding war will reshape the future of media and streaming.