US EditionWarner Bros Discovery rejects Paramount offer, source says, company ponders sale options
- On Oct 21, Warner Bros. Discovery's board rejected a nearly $60 billion offer, and Paramount Skydance's $24 per share bid was rebuffed after an earlier $20 offer.
- WBD said it had launched a strategic review after Paramount's initial offer of around $20 per share was rejected before the higher $24 bid and plans a split by next year.
- Deal economics matter because any buyer would assume roughly $35 billion debt, and shares of Warner Bros. Discovery have surged more than 46% since early September amid takeover reports.
- The board will consider options that include a full sale or a planned separation, and Comcast is likely to examine Warner Bros. Discovery's assets but would face antitrust hurdles in Washington.
- The price to acquire WBD has climbed since the Aug. 7 close of Paramount-Skydance, and analysts say David Ellison's backing by Larry Ellison gives him firepower while attracting Netflix, Amazon and Apple.
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35 Articles
What Happens if Paramount Acquires Warner Bros. Discovery? HBO Max-Paramount+ Combination, Huge Layoffs and More
David Ellison's Paramount Skydance wants to acquire Warner Bros. Discovery, which says it's evaluating multiple options. Here's what a combined Paramount-WBD would look like.
Warner Bros. explores sale amid Paramount bids
What happenedWarner Bros. Discovery said Tuesday it was fielding “unsolicited interest” from “multiple parties” and had initiated a “review of strategic alternatives to maximize shareholder value.”The announcement was the “first acknowledgement of a (metaphorical) ‘For Sale’ sign hanging from the iconic WB water tower,” The Hollywood Reporter said.Who said whatThe media giant, home to iconic brands like HBO and DC Studios, said earlier this year…
Warner Bros. Discovery Rejects Second Paramount Skydance Bid as Zaslav Raises the Stakes in Negotiations
Warner Bros. Discovery (WBD) has turned down a second acquisition bid from Paramount Skydance. The updated bid—valued at roughly $24 per share, up from the initial $20 offer—was swiftly rejected by CEO David Zaslav, signaling that WBD isn’t looking for a quick sale. The post Warner Bros. Discovery Rejects Second Paramount Skydance Bid as Zaslav Raises the Stakes in Negotiations appeared first on That Park Place.
Warner Bros. Discovery ponders sale, rejects Paramount's offer
Warner Bros. Discovery announced Tuesday that it’s open to a sale. The move follows the company's announcement that it's being split into two parts — one for entertainment and streaming, and the other for news and sports. The split comes as the Warner Bros streaming and movie production business grows, while its cable network unit struggles. The move would unshackle a booming business from a struggling one. Warner Bros. is the studio behind "Har…
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