US EditionNetflix ditches deal for Warner Bros. Discovery after Paramount’s offer is deemed superior
Paramount Skydance’s $111 billion bid deemed superior by Warner Bros. board, with Netflix declining to increase its $82.7 billion offer citing financial unattractiveness.
- 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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272 Articles
Paramount went out victorious in the battle for Warner Bros for several months. Discovery, after Netflix retreated on Thursday, leaving Paramount in position to buy Warner's vast average empire, including CNN, writes News.ro.
The leader of streaming has given up his offer to take over the studio on Thursday, February 26th. Paramount Skydance now has the free field to form an empire of cinema and television, despite concerns about the political and social consequences of the merger.
The Korea Times
Netflix walks away from Warner Bros deal, clearing path for Paramount
NEW YORK — Netflix is walking away from its offer to buy Warner Bros. Discovery’s studio and streaming business, in a stunning move that effectively puts Paramount in a position to take over its storied Hollywood rival. On Thursday, Warner’s board announced that Skydance-owned Paramount’s latest offer to buy the entire company for $31 per share was superior to the agreement it had previously struck with Netflix. Warner gave Netflix four business…
The takeover of Warner Bros. in Hollywood seems to be over. Netflix announced that he did not want to make a higher offer. According to Warner, Paramount had previously made a "superior" bid.
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