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Text Message From Paramount CEO Revealed After He Made Hostile Takeover Bid to Buy Warner Bros.
Paramount offers $30 per share in cash backed by $41 billion in financing, aiming to secure control of Warner Bros. Discovery amid regulatory and shareholder challenges.
- On Monday, Paramount Skydance launched a $30-per-share all-cash tender for Warner Bros. Discovery, opening a 20-business-day window with 10 days for WBD to respond.
- Paramount framed the offer as financially stronger than Netflix's bid, backed by $41 billion in equity commitments and $54 billion in debt, with regulatory odds and a higher cash bid to sway shareholders, David Ellison said Monday.
- Warner Bros. Discovery board said it is not modifying its Netflix deal recommendation but will carefully review Paramount's offer, while a $2.8 billion breakup fee owed to Netflix complicates the bid.
- The hostile bid could produce immediate legal and governance battles as lawsuits, proxy fights, and shareholder votes loom while DOJ, FTC, European Union regulators, and state attorneys general review the deal, and the WGA and Teamsters Local 399 warn consolidation will hurt workers.
- Antitrust experts flag vertical-integration risks and theatrical implications as Netflix accounts for just 8% of TV viewership, HBO Max adds 1.3%, and combined paid streaming could near a third of viewership.
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19 Articles
19 Articles
In the USA, Netflix and Paramount Skydance are fighting for Warner Bros. Discovery. This could not only endanger the diversity of art, but also the freedom of the press.
·Germany
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Close-up: Who will take over the old "supermajor" Warner Bros. Discovery and become the new King Kong of Hollywood's monkey rock? Yesterday, old rival Paramount...
·Netherlands
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Coverage Details
Total News Sources19
Leaning Left4Leaning Right0Center2Last UpdatedBias Distribution67% Left
Bias Distribution
- 67% of the sources lean Left
67% Left
L 67%
C 33%
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