US EditionThree Offers in One Month: Paramount’s Secret Pursuit of Warner Bros. Discovery
Paramount Global increased its bids up to $23.50 per share for Warner Bros. Discovery, amid interest from Apple, Amazon, Netflix, and Comcast, while regulatory review looms.
- On Wednesday, Paramount Global delivered its third offer in 30 days to acquire Warner Bros. Discovery, offering $23.50 a share in cash and stock, Paramount chief executive David Ellison wrote.
- On Tuesday, Warner Bros. Discovery announced unsolicited interest from multiple parties prompted it to explore a sale after mid-September overtures continued through earlier this month, including plans to split cable networks business from film and streaming divisions.
- In his letter, David Ellison outlined terms that increased the cash portion to 80 and the breakup fee to $2.1 billion, proposing Zaslav stay as co-CEO.
- Market interest pushed shares higher following reports as Warner Bros. Discovery shares closed at $20.53 and rose 1.3 percent in after-hours trading; a takeover would combine two major studios.
- WBD will ask suitors to sign non-disclosure agreements before sharing financials, while analysts warn antitrust and political scrutiny, including Larry Ellison backing David Ellison's bid, could complicate any deal.
14 Articles
14 Articles
'Bonkers': Trump admin ignites fury with bid to rig Warner Bros. sale for favored studio
Critics unloaded Thursday night over a New York Post report that the Trump administration wants Paramount Skydance to buy Warner Bros. Discovery, and that "rival bidders are likely to face stiff hurdles from US regulators in the blockbuster auction."Paramount settled a lawsuit filed by Trump, and pa...
Exclusive | Warner Bros. Discovery launches formal auction as it seeks bidding war for media giant: sources
Warner Bros. Discovery has launched a formal auction of the media giant, with bankers at JPMorgan and Allen & Co. combing through expressions of interest from multiple suitors – including one from Paramount Skydance, The Post has learned.
Zaslav stands to make $500M from Warner Bros. Discovery sale
The NewsCEO David Zaslav would make some $500 million if Warner Bros. Discovery is sold at a price near what Paramount has offered. Under Zaslav’s contract, his 21 million shares would vest immediately if the company is sold. Zaslav has long been one of media’s best-paid CEOs despite shareholder returns that lag larger rivals. Shareholders in June voted against his $52 million pay package in a symbolic but unusual rebuke.Know MoreZaslav has made…
Report: Apple, Amazon join growing list of possible suitors for WBD
The Warner Bros booth at San Diego Comic Con in 2018. (Photo by Gage Skidmore) Apple and Amazon are among the latest companies to express interest in acquiring some or all of Warner Bros Discovery (WBD), according to a report published on Wednesday. The report, from Bloomberg, cited an unnamed source who relayed information about a meeting between WBD CEO David Zaslav and the company’s board of directors. Earlier this week, WBD said it was explo…
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