US EditionWarner Bros. board rejects $108.4 billion Paramount bid, saying Netflix deal still superior
Warner Bros. Discovery board cites financing and execution risks in Paramount's $108 billion bid and favors Netflix's $83 billion cash-and-stock deal for clearer shareholder value.
- Warner Bros. Discovery's board rejected Paramount Skydance's $108.4 billion acquisition bid, citing inadequate financing assurances and risks to shareholders.
- Paramount's Chair Samuel A. Di Piazza, Jr. stated that Paramount's proposals have been consistently inadequate and that the Netflix deal offers superior value.
- Paramount claims its cash offer provides immediate value, while Warner Bros. emphasized that it relies on unsecured trust funding, presenting risks to investors.
- Netflix co-CEO Ted Sarandos welcomed the Warner Bros. board's rejection of Paramount's bid, stating that their offer is in the best interests of shareholders.
291 Articles
291 Articles
Paramount refuses to back down in Warner Bros. Discovery takeover fight against Netflix
Paramount on Thursday continued to insist it made a superior offer for Warner Bros. Discovery, compared to that of Netflix, despite pushback from the WBD board of directors.Netflix agreed last year to acquire Warner Bros. Discovery's film and television studios and streaming platform, HBO Max, in a cash-and-stock deal valued at $27.75 per Warner Bros. Discovery share. Paramount, a Skydance Corporation, then launched a hostile takeover bid for al…
Warner Bros. Discovery Rejects Paramount's Amended Bid
Warner Bros. Discovery Board of Directors for the second time voted unanimously Wednesday to reject Paramount’s latest offer to buy them and reiterated its recommendation in support of the Netflix offer of $82.7 billion. The Board said following the vote, and it’s decision to reject Paramount, it immediately sent a letter to Warner Bros. Discovery shareholders providing details on its recommendation. “The Board unanimously determined that the Pa…
Warner Bros. Discovery Says No To Paramount Bid
The board of Warner Bros. Discovery has again rejected a revised hostile takeover bid from Paramount, saying the offer remains inferior to its existing deal with Netflix. In a letter to shareholders, the board said Paramount’s proposal carries excessive risk because it relies on more than $50 billion in new debt, likening it to a leveraged buyout that could collapse under financing strain. Warner Bros. Discovery has turned down the latest acquis…
"Illusory and misleading" offer. Netflix wins
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