US EditionDemocrats Warn That They Will Try to Block Paramount From Buying Warner Bros. Discovery If They Get Power Back
Paramount's $108 billion hostile bid challenges Netflix's $82.7 billion offer for Warner Bros. Discovery, raising concerns over foreign investment and industry impact, say U.S. lawmakers.
- On Monday, Paramount Global launched a hostile takeover bid for Warner Bros. Discovery valued at more than $108 billion, days after the WBD board agreed on Friday to sell assets to Netflix for $82.7 billion.
- Paramount has highlighted White House ties and disclosed financing from Affinity Partners, an investment firm founded by Jared Kushner, while lawmakers urged referral to CFIUS over Gulf sovereign wealth fund backers.
- The tender offer will be open for 20 business days until Jan. 8, with Warner Bros. Discovery board responding by Dec. 22; Netflix assumes roughly $10.7 billion debt, issues $11.7 billion equity, and both bidders face breakup fees.
- WBD's board vote prompted backlash from Hollywood guilds, movie theater owners and politicians, while a consumer lawsuit against Netflix seeks to block the acquisition, which Netflix called meritless; both face regulatory hurdles.
- Moody's warned that pro forma debt for the Paramount-Warner Bros. Discovery combined entity could reach near $92 billion, posing long-term financial risks.
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People who work in cinemas go from worried to desperate, and it doesn't make much difference between Netflix and Paramount.
The Hollywood Reporter
TV Tech Industry NewsOne Fewer Buyer? Warner Bros. Deal Rattles Producers Up North
Canadian producers face uncertainty as Netflix and Paramount fight to acquire Warner Bros. Discovery and reshape the content marketplace.
Moody's Warns Warner Bros. Discovery Could Still Face Credit Downgrade Despite Netflix Deal
Moody’s Investor Services is warning that Warner Bros. Discovery remains under review for a possible downgrade to its credit ratings despite its $82.7 billion deal with Netflix for its studio and streaming assets. Under the terms of the deal, Netflix will assume roughly $10.7 billion of WBD’s net debt and issue $11.7 billion in equity to WBD shareholders. The deal is expected to close within the next 12 to 18 months, following WBD’s separation o…
Democrats Warn That They Will Try to Block Paramount From Buying Warner Bros. Discovery If They Get Power Back
Two Democratic members of the House Financial Services Committee have fired a warning shot across the escalating takeover battle for Warner Bros. Discovery, signaling that a future Democratic-controlled Congress and White House could move to block or even dismantle any acquisition of the company by Paramount Global if foreign Gulf investors end up with meaningful […] The post Democrats Warn That They Will Try to Block Paramount From Buying Warne…
On Friday, the takeover seemed perfect: Netflix and Warner Bros. jointly announced that the streaming giant would take over the media and film group for around 71.3 billion euros. But not only the competition guardians, whose approval is still pending, expressed concerns. US President Trump also criticised the takeover. Shortly thereafter, the film production company Paramount submitted an offer of around 93 billion euros.
NBC Dallas-Fort Worth
NBC NewsNetflix and Paramount's battle over Warner Bros. Discovery looms over Hollywood's awards season
For a company at the center of a chaotic battle over the future of Hollywood, Warner Bros. Discovery had a pretty good Monday. The media conglomerate’s film “One Battle After Another” and TV show “The White Lotus” collected the most Golden Globe nominations in their categories. Another of its movies, “Sinners,” also fared well, earning seven nominations. But the studio did not have much time to celebrate. Just as actors Marlon Wayans and Skye P.…
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