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Paramount sweetens WBD bid, stops short of raising value

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Paramount sweetens WBD bid, stops short of raising value
Paramount sweetens WBD bid, but stops short of raising its per-share value

Paramount Skydance said Tuesday it has sweetened its offer for Warner Bros. Discovery, adding a so-called “ticking fee” to signal regulatory confidence among other new elements.

Paramount stopped short, however, of raising its per-share offer to WBD shareholders. In December, Paramount launched a hostile tender offer for the entirety of Warner Bros. Discovery at $30 per share, all cash. The company argues its offer is superior to a pending transaction between Warner Bros. Discovery and Netflix.

“The additional benefits of our superior $30 per share, all-cash offer clearly underscore our strong and unwavering commitment to delivering the full value WBD shareholders deserve for their investment,” said Paramount CEO David Ellison in a statement. “We are making meaningful enhancements – backing this offer with billions of dollars, providing shareholders with certainty in value, a clear regulatory path, and protection against market volatility.”

The “ticking fee” is payable to WBD shareholders for any potential delays in receiving regulatory approval for a Paramount-WBD tie-up.

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Paramount has set the fee at 25 cents per share per quarter that the transaction hasn’t closed after year-end 2026, “underscoring Paramount’s confidence in the speed and certainty of regulatory approval for its transaction,” the company said.

The so-called ticking fee is equivalent to roughly $650 million in cash value each quarter for every quarter the deal is not closed past Dec. 31.

In addition, on Tuesday Paramount said it would fund the $2.8 billion termination fee that Warner Bros. Discovery would owe Netflix if that deal were to fall through, and it would also eliminate a potential $1.5 billion refinancing cost of debt.

Paramount said the revised offer — including the ticking fee, funding the termination fee and refinancing — is “fully financed” by $43.6 billion of equity commitments from the Ellison family and RedBird Capital Partners, as well as $54 billion in debt commitments from lenders Bank of America, Citigroup and private equity firm Apollo.

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RedBird’s Cardinale says he will make the case to shareholders if WBD rejects Paramount’s latest bid

RedBird Capital Partners’ Gerry Cardinale told CNBC’s David Faber on Tuesday that the amended bid was an effort to “continue to reinforce and perfect” Paramount’s offer.

“What we’ve done is we’ve perfected it by taking off the table all of the, what I call, more clerical items that they have been using to suggest that they are not going to engage with us,” Cardinale said.

If WBD still declines the offer, Cardinale said RedBird and Paramount will continue going directly to shareholders to make their case, though he said he believes there is no reason for the board to not engage.

“Our deal is highly aligned with delivering the best value and certainty – that has never changed,” he said.

Netflix’s proposed acquisition of WBD’s streaming and studios assets was estimated to close in 12 to 18 months from when the deal was announced in December. That deal would close after the separation of WBD’s TV networks, such as CNN, TBS and Discovery, takes place, which is expected in the third quarter of 2026.

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Last month, Netflix amended its own offer for WBD assets to pay $27.75 per share entirely in cash. The initial deal was composed of a combination of cash and stock at an equity value of $72 billion.

Paramount’s revised offer leans on antitrust concerns that have been raised by lawmakers and industry insiders since Netflix announced the proposed deal.

Netflix co-CEO Ted Sarandos has publicly noted his confidence in getting the deal approved, most recently in the company’s January earnings call with investors. Sarandos said he believed the deal would secure regulatory approval, contending it would preserve jobs at a time of heavy layoffs across media “because this deal is pro-consumer … pro-innovation, pro-worker.”

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Who Is Buying UK Shops in 2025

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With today marking three weeks since Liz Truss was appointed the UK Prime Minister has revealed that despite consumers reduced spending power in the wake of record inflation and the energy crisis, independent retailers are having to rely on the support of consumers and their local community

Physical shops are still very much in demand in the UK.But who is buying shops in 2025?

Read on as we explore who is buying UK shops in 2025.

Big Companies and Investment Funds

New research from BusinessesForSale.com states that big companies may buy multiple shops that have the potential to be financially profitable. And in some cases, they may be willing to invest in one established shop. These buyers include private equity firms, and these groups may be seeking to improve shops through operational overhauls. Often, private equity firms are aiming to see high rental income and shop growth within a set timeframe. They’ll look for business sales in the UK that can meet their financial goals.

New Buyers

Not every shop buyer already has a portfolio of businesses under their belt. New buyers could be individuals making the transition to ownership roles or younger buyers ready to start their journey. New buyers may find it more difficult to secure financing since they don’t have a track record of success. They’ll need to seek out smaller stores, including bakeries or restaurants, that don’t require a lot of major repairs. And new owners will want to make sure they’re clear about lease payments. Not knowing payment terms can lead to unpleasant financial surprises.

Franchisee Buyers

Franchisee buyers run a shop using a known brand and business model. Working within a franchise scenario can reduce stress, as owners won’t need to revamp a business from scratch. Instead, they’ll have an established system that already appeals to customers. Franchisees should expect to pay some fees for this level of convenience. But those costs also afford them training and advertising opportunities provided by the franchise.

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Buyouts from Staff Members

It’s not always outside individuals buying shops in the UK. Sometimes, staff members connected to a shop will choose to purchase it as part of an employee buyout. Staff members will be familiar with the nuances of the given business and know many of the internal business strategies. And, as a result, they’ll be positioned well to operate it effectively. Even so, staff members should be prepared to work with landlords and shore up the money needed to pay the lease. All buyers should be prepared for fit-out liabilities and landlord demands, too. For staff, buying a shop from an owner isn’t always as easy as it seems.

Buying UK Shops in 2025

Buying UK shops can be an invigorating and lucrative experience. And the people doing the buying range from established private equity firms to new buyers seeking their first business opportunities. Working within a franchise system can take some pressure off buyers. And staff members with longstanding connections to a shop may have an advantage over new buyers without existing connections. Ultimately, buyers in the UK should survey the options and choose businesses that align with their financial status and goals.

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Nektar Therapeutics (NKTR) Discusses 36-Week Maintenance Results From Phase 2b REZOLVE-AD Study in Atopic Dermatitis – Slideshow

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

Nektar Therapeutics (NKTR) Discusses 36-Week Maintenance Results From Phase 2b REZOLVE-AD Study in Atopic Dermatitis – Slideshow

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US consumer spending slowed in December – Is it a warning for the economy?

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US consumer spending slowed in December - Is it a warning for the economy?

Retail sales were unexpectedly flat in December as consumers pulled back, raising questions about a broader economic slowdown.

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Bristol sewing company destroyed by ‘devastating’ fire launches fundraiser

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The studio was engulphed when a fire broke out at Broadmead Industrial Estate last month

Chantal Preston and Ruby Baker's sewing company was destroyed in a fire last month

Chantal Preston and Ruby Baker’s sewing company was destroyed in a fire last month(Image: RC Designs)

A pair of Bristol friends whose sewing company was destroyed in a fire last month are raising funds to relaunch the business. Chantal Preston, 35, and Ruby Baker, 25, established RC Bespoke Designs early last year, working from a studio in Keynsham.

The duo joined forces after meeting through Bristol’s Narrowboat community, and set up on Broadmead Industrial Estate where they made bespoke soft furnishings.

They had already secured work with a number of local businesses, including landing their first large-scale job – an awning for the marina – and were preparing a big social media launch when disaster struck.

On January 19, a fire broke out on the industrial estate and in less than an hour, the flames had torn through multiple buildings, including Chantal and Ruby’s offices.

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Twelve Avon Fire and Rescue engines were called to the scene but the rented studio and all its contents were destroyed. It is still not known how the fire was started. One person was taken to hospital at the time, but nobody was badly hurt, according to Chantal.

The fire at the industrial estate in Keynsham in January

The fire at the industrial estate in Keynsham in January(Image: Handout)

“We are incredibly grateful that no one was seriously hurt, but the loss has been overwhelming,” she said.

“This studio wasn’t just a business, it was our livelihood, our creative home and a place we poured our time, money and heart into. Our studio was an attic space…the roof and second floor no longer exist. It didn’t stand a chance.”

Chantal and Ruby lost years worth of tools, stock and client’s work which was ready for collecting, as well as personal life storage.

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“It was all gone in an instant,” she said.

The pair have now set up a Gofundme page in the hope of raising enough money to get back on their feet.

“We desperately need the help of our community,” said Chantal. “Our work is impossible without tools and a space to work.”

Chantal and Ruby have been provided with workspace for three months for free, but still need to restock tools and equipment including a pattern master; thread; fabric; iron; shelving; storage; tables for sewing machines; a large table for cutting fabric; metre rule; rotary cutter; adjustable chairs; and a cutting board.

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“If anyone could spare a moment to check out and share our fundraiser on GoFundMe it would mean the world,” added Chantal. “Small businesses have to fight really hard to come back from losses of such devastation, and oftentimes don’t succeed alone, especially in this crazy climate.

“We also would welcome any haberdashery tools, or machines, that people may be selling cheaply, or throwing out. We’d love to give them a new home.

“Thank you for supporting us during one of the most devastating moments of our journey. We can’t wait to rebuild and come back stronger.”

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Grupo Bimbo adds Takis innovation

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Grupo Bimbo adds Takis innovation

The cheese snacks are offered in two flavors. 

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Oppenheimer lowers Trimble stock price target to $86 from $102

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Oppenheimer lowers Trimble stock price target to $86 from $102

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Lactalis USA adds protein cheese sticks

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Lactalis USA adds protein cheese sticks

The cheese sticks are made with 17 grams of protein per serving. 

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Your Essential Guide to Group Coach Travel

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Your Essential Guide to Group Coach Travel

As the UK’s second-largest city, Birmingham presents both tremendous opportunities and unique challenges for group travel.

From the bustling Bull Ring shopping centre and the historic Jewellery Quarter to world-class venues like the NEC and Symphony Hall, Birmingham attracts millions of visitors annually for business, leisure, and cultural events. Yet navigating this sprawling metropolis with a large group requires careful planning and the right transportation solution.

Whether you’re coordinating a corporate conference at the ICC, organising a school trip to Cadbury World, planning wedding guest transport, or arranging a sporting event visit to Villa Park or St Andrew’s, the logistics of moving groups through Birmingham’s busy streets can quickly become overwhelming. The solution lies in selecting professional coach services that understand the city’s geography, traffic patterns, and venue requirements.

Why Birmingham Groups Choose Coach Services

Conquering Urban Complexity

Birmingham’s one-way systems, pedestrianised zones, and congestion hotspots present significant challenges for those unfamiliar with the city. Professional drivers navigate these complexities daily, knowing the optimal routes to major venues, alternative options during peak traffic periods, and the most efficient approaches to hotels and attractions. This expertise proves invaluable when schedules are tight and punctuality matters.

Centralised Convenience

Coordinating multiple vehicles through Birmingham’s busy streets creates unnecessary complications. A single coach keeps your entire group together, eliminates the risk of anyone getting lost in unfamiliar surroundings, and ensures simultaneous arrival at your destination—particularly crucial for time-sensitive events like theatre performances at the Alexandra or Hippodrome.

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Parking Solutions

Birmingham’s parking challenges are legendary, with limited spaces at premium prices and strict enforcement in most areas. Coach drop-offs at major venues eliminate these concerns entirely, with designated zones at most significant locations. Your group disembarks steps from your destination whilst the coach manages parking logistics separately.

Cost-Effective Group Transport

When travelling to Birmingham from elsewhere or moving around the city, splitting coach hire costs amongst your group often proves more economical than individual train tickets, multiple taxis, or parking fees for numerous cars. The savings become particularly apparent for larger groups of 30 or more passengers.

Common Applications for Birmingham Coach Hire

Exhibition and Conference Transport

The NEC hosts hundreds of events annually, from industry exhibitions to consumer shows, whilst the ICC and other venues attract countless conferences. Coach Hire Birmingham services provide seamless transport between hotels and venues, allowing delegates to network during travel and arrive professionally without the stress of navigating unfamiliar routes or searching for parking.

Educational Visits

Birmingham’s rich industrial heritage and cultural attractions make it a popular educational destination. From the Birmingham Museum and Art Gallery to Thinktank science museum and the Black Country Living Museum, schools benefit from reliable transport that allows teachers to focus on supervision and learning objectives rather than driving and directions.

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Shopping and Leisure Trips

The Bull Ring, Grand Central, and Mailbox attract shopping groups from across the region. Coach services drop groups in the city centre, arrange collection times, and eliminate concerns about shopping bags, parking, or coordinating return journeys after a long day browsing.

Corporate Events and Team Building

Birmingham businesses regularly organise team-building activities, client entertainment, and corporate hospitality events. Professional transport ensures staff arrive together and on time, whilst journey time can be utilised for briefings, networking, or simply allowing teams to unwind before important events.

Sporting Fixtures

Aston Villa, Birmingham City, Warwickshire County Cricket Club, and major events at venues like Arena Birmingham all attract passionate supporters. Coach travel maintains team spirit throughout the journey whilst avoiding the notorious parking difficulties and traffic congestion around major stadiums on match days.

Airport Transfers

Birmingham Airport serves millions of passengers annually, with groups requiring transport for holidays, business trips, and international visits. Door-to-door coach services eliminate the complexity of coordinating multiple taxis or managing luggage on public transport connections.

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Essential Booking Considerations

Timeline Planning: Birmingham hosts major events year-round, from the Frankfurt Christmas Market to summer festivals and countless NEC exhibitions. These peak periods create high demand for coach services, making advance booking essential. Aim for 6-8 weeks ahead for standard journeys, extending to 2-3 months for major event periods or school holidays.

Route Specifics: Birmingham’s geography affects journey planning significantly. Provide detailed information about pick-up and drop-off locations, including specific venue entrances where relevant. Many Birmingham venues have designated coach areas, and your provider needs this information for accurate planning.

Traffic Considerations: Birmingham experiences significant rush-hour congestion, particularly on key routes like the Aston Expressway and around Spaghetti Junction. Discuss timing with your provider to avoid predictable delays, or build appropriate buffers into time-sensitive schedules.

Group Size Accuracy: Vehicles range from 16-seat minibuses to 70+ passenger coaches. Accurate numbers ensure appropriate allocation, particularly important in Birmingham where venue access may restrict vehicle sizes in certain areas.

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Frequently Asked Questions

How does Birmingham traffic affect journey planning?

Birmingham experiences peak congestion during typical rush hours (7:30-9:30am and 4:30-6:30pm weekdays), with additional pressures around major events. Professional providers factor these patterns into journey planning, suggesting optimal departure times or alternative routes to ensure punctual arrival.

Can coaches access Birmingham city centre venues?

Most major Birmingham venues provide coach drop-off and collection facilities, though locations vary. Venues like Symphony Hall, the Hippodrome, and major hotels have designated coach areas. Some city centre locations may require drop-offs at nearby points rather than directly outside, particularly in pedestrianised zones.

What’s included in typical Birmingham coach hire costs?

Standard packages generally include the vehicle, experienced driver, fuel, and comprehensive insurance. Additional charges may apply for Birmingham’s Clean Air Zone (CAZ) if applicable, parking fees at certain venues, and extended waiting times. Always request detailed quotations that clearly itemise all costs.

How far in advance should I book for NEC events?

Major NEC exhibitions attract thousands of visitors, creating exceptional demand for accommodation and transport. For significant events, booking 2-3 months ahead is advisable. Last-minute bookings during major shows often face limited availability and premium pricing.

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Can routes include multiple Birmingham locations?

Absolutely. Providers can accommodate itineraries including multiple venues, hotels, or attractions. However, Birmingham’s traffic patterns mean journey times between locations can vary significantly depending on routes and timing, so discuss your requirements thoroughly when planning to ensure realistic scheduling.

Maximising Your Birmingham Coach Experience

Successful Birmingham group travel depends on clear communication and realistic planning. Designate a coordinator to liaise with your coach provider and communicate with passengers. Provide comprehensive briefings about meeting points—Birmingham landmarks like New Street Station or specific hotel entrances make excellent reference points for those unfamiliar with the city.

Build modest time buffers into your schedule, particularly when travelling during peak periods or around major events. Birmingham’s unpredictability means a 15-minute contingency can prevent minor delays from becoming significant problems.

Maintain communication with your driver throughout the day, particularly if plans change. Their Birmingham knowledge often provides valuable alternatives if traffic issues arise or timings need adjustment.

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Conclusion

Birmingham’s status as a major UK city brings tremendous opportunities for business, education, leisure, and cultural experiences, but successfully navigating the city with groups requires professional transport solutions. Quality coach services transform potentially stressful logistics into seamless journeys, allowing your group to focus on the purpose of your visit rather than the mechanics of getting there. By selecting experienced providers who understand Birmingham’s unique characteristics, booking with adequate notice, and communicating your requirements clearly, you ensure every group journey begins and ends successfully. The investment in professional transport pays dividends in punctuality, passenger comfort, and overall satisfaction, making it an essential component of any successful Birmingham group visit.

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Estee Lauder sues Walmart, alleging sale of counterfeits

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Estee Lauder sues Walmart, alleging sale of counterfeits

Walmart Inc. signage during the company’s listing at the Nasdaq MarketSite in New York, US, on Tuesday, Dec. 9, 2025.

Michael Nagle | Bloomberg | Getty Images

Estee Lauder sued Walmart in California federal court over allegations the big-box retailer sold counterfeit beauty products on its website and didn’t do enough to ensure only authorized and authentic merchandise was offered to consumers. 

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Estee Lauder said it purchased, inspected or tested a number of products sold on Walmart.com that used the Le Labo, La Mer, Clinique, Aveda, Tom Ford and Estee Lauder trademarks but were determined to be fakes, according to the suit, filed Monday.

The products include counterfeit versions of Estee Lauder’s Advanced Night Repair serum, a Le Labo fragrance, a Clinique eye cream, a La Mer lotion, an Aveda hair brush and a Tom Ford fragrance. 

xemplars of the Estée Lauder Accused Products

U.S. District Court Complaint

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It’s unclear when Estee Lauder bought and tested the products but the suit comes several months after CNBC published an investigation into counterfeit beauty products and fraud on Walmart.com.

Two of the counterfeit products cited in CNBC’s investigation — Estee Lauder Advanced Night Repair serum and Clinique Smart Clinical Repair Wrinkle Correcting Eye Cream — were also mentioned in Estee Lauder’s lawsuit. It’s unclear if the products cited in the suit are the same counterfeits CNBC provided to Estee Lauder. 

Estee Lauder and Walmart didn’t immediately return requests for comment. 

Exemplars of the Clinique Accused Products

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U.S. District Court Complaint

While the products were sold by third-party sellers on Walmart’s online marketplace, Estee Lauder said the company played an active role in facilitating those sales to shoppers in its suit. The legacy beauty company called Walmart’s conduct “extreme, outrageous, fraudulent … despicable and harmful.” 

The counterfeit products were promoted and advertised to shoppers on the platform, Estee Lauder’s trademarks were used in search engine optimization tools to drive traffic to the listings and Walmart profited from the sales, the complaint stated. 

Further, “a person shopping on Walmart.com would have reasonably believed that Walmart, and not third-party sellers, was the seller” of the item, which could have caused confusion among shoppers, the complaint states. 

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At the heart of CNBC’s investigation into Walmart’s online marketplace was the steps the company took, or didn’t take, to vet its third-party sellers and the products they were offering to prevent fraud and the sale of fakes on the platform. 

Exemplars of the La Mer Accused Products.

U.S. District Court Complaint

In its complaint, Estee Lauder said Walmart promoted the “reputation and professionalism” of the sellers permitted to operate on the platform but said the retailer actually does “very little to ensure that only authorized and authentic products are available” for sale. 

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“This is readily apparent given the [counterfeits] were permitted to be sold on Defendants’ website despite their stated careful selection process in who they choose as a Marketplace seller/partner,” the complaint states. “Accordingly, Defendants know or had reason to know that the sellers they partnered with and ‘regularly review[ed]’ were selling products which infringe upon the Estée Lauder Marks.” 

Walmart’s online marketplace has become a key part of its strategy to grow profit faster than sales and better compete against its longtime rival, Amazon. The rapid growth of the online platform helped fuel Walmart’s ascent to a $1 trillion market cap last week, putting it in an exclusive club made up almost entirely of technology companies. 

However, the strategy has come with risks, CNBC’s investigation revealed. Offering counterfeit, potentially dangerous, products to shoppers through third-party sellers on the marketplace opens Walmart up to liability and could erode the customer trust at the core of its brand.

Exemplars of the Le Labo Accused Products

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U.S. District Court Complaint

Ever since a 2010 court ruling that arose after Tiffany sued eBay over counterfeit products on the platform, it can be tough for brands to hold platforms accountable for their role in selling counterfeit goods. Sometimes, they avoid lawsuits unless the conduct is extreme or particularly flagrant, experts previously told CNBC.

The Shop Safe Act, a bipartisan federal bill that aims to curb the sale of fakes on online marketplaces, is designed to address some of the issues posed by the Tiffany v. eBay ruling by incentivizing platforms to better vet sellers and the products they’re offering. When platforms comply with certain anti-counterfeiting measures, they could be shielded from liability if a seller offers a fake product. 

Brands widely supported the legislation, but it has so far failed to pass at least three times. That’s partially because Walmart and other online marketplaces like Amazon, Etsy and eBay have lobbied against aspects of it, two U.S. Senate aides, who spoke on the condition of anonymity because the discussions were private, previously told CNBC. 

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Dan-O’s Seasoning debuts dip mixes

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Dan-O’s Seasoning debuts dip mixes

Dan-O’s Dips offers a line of four flavor varieties. 

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