US EditionParamount questions Warner Bros. Discovery on ‘fairness and adequacy’ of sale process
Paramount alleges Warner Bros. Discovery's sale favors Netflix, urging an independent committee to ensure fairness amid second-round bids from Paramount, Netflix, and Comcast.
- On Dec. 3, Paramount Skydance's legal team wrote to Warner Bros. Discovery CEO David Zaslav questioning the fairness and adequacy of the sale process, noting second-round bids were submitted Dec. 1 by Paramount, Netflix and Comcast.
- Paramount's letter argues that media coverage shows WBD management appears to favor Netflix, citing reports of a Brussels meeting with Gerhard Zeiler and E.U. Commission Vice President Hena Virkkunen raising concerns about the Ellison family's planned acquisition.
- Paramount's lawyers detail that Paramount alleges management conflicts and personal interests taint the process, agreed to standstill arrangements, and says Warner Bros. Discovery rebuffed three offers, including $23.50 a share.
- WBD lawyers replied that they have shared the letter with the WBD board of directors and affirmed that the board attends to its fiduciary obligations.
- Paramount is bidding for the whole company while rivals target parts of WBD, warning that even the appearance of bias could imperil stockholder value.
22 Articles
22 Articles
Paramount fumes that Warner Bros. sale process is ‘unfair’ as Netflix jumps into lead
While Paramount chief David Ellison thought he had a ‘Trump card’ in his bid to purchase Warner Bros. Discovery, it appears he is growing less confident that he’ll add the studio giant to his growing media empire.
Paramount questions ‘fairness and adequacy’ of WBD auction process after reports Netflix may win
Paramount sent a letter to Warner Bros. Discovery CEO David Zaslav questioning the “fairness and adequacy” of the media giant’s sales process – nodding to reports it is leaning toward a bid from Netflix.
Paramount Says Warner Bros. Discovery is Unfairly Favoring Netflix in Bidding Process
Attorneys for Paramount say that they have “serious concerns about the fairness and adequacy of the bidding process” for the sale of Warner Bros. Discovery. In a letter shared by CNBC, the attorneys say that it’s clear Warner Bros. has an intended buyer in mind and has been favoring Netflix. The letter calls out reports […] The post Paramount Says Warner Bros. Discovery is Unfairly Favoring Netflix in Bidding Process appeared first on Cord Cutte…
Paramount Skydance Alleges Warner Bros. Discovery Sales Process ‘Has Been Tainted by Management Conflicts’ That Favor Netflix Bid
Lawyers for Paramount Skydance sent a letter to Warner Bros. Discovery CEO David Zaslav, expressing "grave concerns" about the alleged unfairness of WBD sales process. The attorneys suggested the Warner Bros. Discovery board has "embarked on a myopic process with a predetermined outcome that favors a single bidder" -- meaning Netflix.
Coverage Details
Bias Distribution
- 46% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
