US EditionParamount Makes $108.4 Billion Hostile Bid for Warner After Losing Bidding War to Netflix
Paramount offers $108.4 billion in cash, $18 billion more than Netflix, aiming for quicker regulatory approval amid concerns over market dominance and job losses.
- 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.
263 Articles
263 Articles
'Corrupt': Kushner’s role in Warner Brothers Discovery takeover bid draws fierce blowback
On Sunday, President Donald Trump declared that he will “be involved” in the federal government’s decision on whether to allow the streaming service Netflix to buy mass media and entertainment conglomerate Warner Brothers Discovery. On Monday, Paramount Skydance, another mass media and entertainment conglomerate, announced a hostile takeover bid for WBD — with news soon following that Trump son-in-law Jared Kushner’s private equity firm is part …
Jared Kushner, the President’s Son-in-Law, Is Part of Paramount’s Bid for Warner Bros. Discovery
Paramount’s hostile bid for Warner Bros. Discovery on Monday included a list of investors lined up to back the offer. Perhaps none stood out more than Affinity Partners, the private equity firm founded by President Trump’s son-in-law Jared Kushner. Paramount said in the filing that Larry Ellison, the father of the company’s chief executive, David Ellison, alongside the private equity firm RedBird Capital Partners, have committed to backstop the …
The US television and film studio "Paramount Skydance" has submitted a counter-offer for its competitor "Warner Bros Discovery" worth about 108 billion dollars.
Paramount launched a public cash acquisition counteroffer from Warner Bros on Monday. Discovery, which challenges a previously announced deal between WBD and Netflix. The new offer values the entertainment giant at $108.4 billion and represents a 139 percent premium on Warner's stock price in September, said Paramount in a statement calling Netflix's offer "inferior and uncertain." "WBD shareholders deserve the opportunity to consider our top ca…
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