“Some things don’t change,” Milner says with a chuckle when asked whether his desire to prove people wrong was as strong as ever after his 40th birthday last month. “There’s people who are always going to doubt you but that’s always something that’s been at my forefront: to prove them wrong.”
But Paramount has reportedly been eyeing WBD for years and followed December's merger announcement with an aggressive hostile takeover bid. On Tuesday, in addition to raising its offer to buy all of WBD, Paramount also agreed to pay a $7 billion regulatory termination fee should a Paramount-WBD merger fail to close due to antitrust regulation, as well as a $0.25 per share ticking fee for every quarter that the deal doesn’t close, starting on September 30.
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