Paramount Sweetens Warner Bros. Bid Terms to Woo Investors

Paramount Skydance Corp. made enhancements to its hostile offer for Warner Bros. Discovery Inc., addressing some of the company’s concerns in an effort to thwart a rival deal with Netflix Inc.

Paramount said in a statement on Tuesday it will cover the $2.8 billion termination fee that Warner Bros. will have to pay to Netflix if it ends the already agreed-upon deal with the streaming giant. It will also backstop a Warner Bros. debt refinancing and pay $1.5 billion in fees associated with that, if necessary.