On Friday, Netflix announced that Paramount Skydance has now paid the streamer its promised $2.8 billion breakup fee following Paramount’s victory in their bidding war for Wbd.
Per an SEC filing, Netflix said Warner Bros. Discovery “provided notice to Netflix that it had terminated the Merger Agreement in accordance with its terms in order to enter into an Agreement and Plan of Merger with Psky in respect of such Company Superior Proposal.”
Upon the termination, Netflix said Paramount Skydance paid the $2.8 billion fee Netflix was owed in accordance with the merger agreement it had signed with Warner Bros. Discovery.
More to come…
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