US EditionNetflix ditches deal for Warner Bros. Discovery after Paramount’s offer is deemed superior
Paramount Skydance secured Warner Bros for $111 billion after Netflix withdrew, citing financial limits; Netflix will invest $20 billion in content this year, boosting its streaming focus.
- On Thursday, Netflix declined to raise its offer for Warner Bros. Discovery's studio and streaming arm, saying matching Paramount would be `no longer financially attractive` after Warner’s board labeled Paramount’s proposal superior.
- Paramount raised its bid to $31 per share and added a $7 billion regulatory termination fee, also agreeing to an accelerated ticking fee that Warner’s board called a company superior proposal.
- Backed by Larry Ellison and foreign sovereign funds, Paramount is financing its revised offer by taking on billions of dollars in debt, aiming to acquire Warner’s assets including CNN and major titles.
- The U.S. Department of Justice has opened reviews of the proposed deal, while lawmakers and entertainment trade groups warned consolidation could cost jobs and reduce filmmaking diversity.
- A Paramount-Warner combination would merge two legacy studios and vast content libraries, reshaping Hollywood and drawing political scrutiny due to Larry Ellison's backing and reported ties to President Donald Trump.
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Tom Cruise Was Reportedly 'Furious' With Netflix's Bid For Warner Bros.
MEGATom Cruise has seemingly saved Hollywood again following his involvement in thwarting Netflix's takeover of Warner Bros. Reports suggest the actor feared the deal would mean the end of the movie industry, as films would now be mostly streamed rather than released to cinemas, and allegedly took steps behind the scenes to fight it. Tom Cruise has made strong moves in the past to protect the film industry, as he prevented the COVID-19 pandemic …
Paramount Wins Bidding War for Warner Bros/Discovery After Netflix Pulls Out
AI-Generated image by Grok. Last-minute offer by the Ellison family deemed superior. Paramount Skydance finally won the bidding war for Warner Bros. Discovery after Netflix pulled out of negotiations, saying it wouldn’t match the 11-hour David Ellison offer for the iconic Hollywood company. Netflix is declining to raise their bid to buy Warner Bros. Paramount is now expected to acquire the studio. pic.twitter.com/ccl9KFlKjI — DiscussingFilm (@D…
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