US EditionParamount Makes $108.4 Billion Hostile Bid for Warner After Losing Bidding War to Netflix
- On Monday, Paramount Skydance launched a hostile bid to buy Warner Bros. Discovery, offering an all-cash $30-per-share to WBD shareholders.
- On Friday, Netflix announced a $72 billion deal to acquire WBD's studio and streaming assets after a months-long bidding war, while WBD rejected Paramount's offer last week.
- David Ellison's Paramount had pursued the whole company, including CNN and TNT Sports, and told Warner Bros. Discovery's board that keeping WBD whole served shareholders' best interests.
- Antitrust questions have arisen over the Netflix proposal, while Paramount executives argue their smaller size and friendlier ties to the Trump administration could speed regulatory approval despite the administration's "heavy skepticism," CNBC reported Friday.
- Financial and corporate ties could influence bidder strategies as Comcast also bid for streaming and studio businesses, with Versant set to become CNBC's new parent after Comcast's planned spinoff.
353 Articles
353 Articles
What to know about Paramount's hostile bid for Warner Bros. Discovery
Warner Bros. Discovery's friendly agreement to sell itself to Netflix just got upended by a hostile actor -- Paramount, which made Warner shareholders a higher offer and touched off what is likely to be a lengthy fight in the latest episode of media industry consolidation.The bid comes after Warner last week agreed to be bought by Netflix for $72 billion.The competing offers set the stage for combining some of the most beloved entertainment prop…
Mass. Sen. Warren hated Netflix/WB deal. She likes Paramount’s $108B hostile bid even less
Just days after she blasted Netflix’s $82.7 billion takeover of Warner Bros. Discovery, which owns HBO, as an “anti-monopoly nightmare,” U.S. Sen. Elizabeth Warren has upped the ante with Paramount Skydance’s $108 billion hostile offer for the same entertainment titan.
Paramount launches hostile takeover bid for Warner Bros. Discovery
Paramount Skydance has launched a hostile bid to acquire Warner Bros Discovery, despite an announcement on Friday (December 5) that Netflix had agreed to buy its studio and streaming assets – Warner Bros.’ film and TV studios, HBO and the streaming service HBO Max. Netflix didn’t agree to take on WBD’s traditional TV operations, including CNN and the Discovery Channel, as part of its $82.7billion bid. In contrast, Paramount bid $108.4billion for…
By MICHELLE CHAPMAN NEW YORK (AP) — Paramount launched a hostile takeover bid for Warner Bros. Discovery on Monday, kicking off a fierce battle with Netflix to buy the company behind HBO, CNN, and DC Studios, and the right to reshape much of the entertainment landscape. Days after top Warner executives agreed to Netflix’s $72 billion buyout offer, Paramount’s bid seeks to outmaneuver them by appealing directly to Warner shareholders with more mo…
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