Paramount Skydance just sweetened the pot in its high-stakes fight with Netflix over Warner Bros. Discovery — and it’s waving a lot more cash around to get shareholders’ attention. Paramount boosted its bid by adding a 25-cent-per-share “ticking fee”, worth about $650 million per quarter starting in January 2027 if the deal doesn’t close. It also says it’ll cover the $2.8 billion breakup fee Warner Bros. would owe Netflix. Translation: Paramount is trying to make waiting — and switching sides — very expensive. This is the latest twist in a months-long media takeover brawl. Warner Bros. Discovery, home to Warner Bros. Studios, HBO, and HBO Max, initially agreed to a Netflix deal in December after a bidding war. Paramount then came back with a hostile offer, which the WBD board originally rejected, citing concerns that Larry Ellison wasn’t backing it. That changed fast. Paramount later confirmed Larry Ellison is guaranteeing more than $43 billion in financing. Netflix countered in January by switching to an all-cash offer. Now Paramount is going even further — eliminating up to $1.5 billion in financing costs, reimbursing shareholders for fees, and agreeing to cover WBD’s bridge loan if needed. David Ellison says Paramount’s $30-per-share all-cash offer delivers more certainty, less risk, and a cleaner regulatory path.