US EditionWarner Bros. Plans to Reject Paramount Offer, Back Existing Netflix Deal: Report
Warner Bros. Discovery board cites concerns about Paramount’s financing and regulatory risks, favoring Netflix’s $83 billion deal for greater long-term value and certainty.
- The WBD board is preparing to urge shareholders to reject Paramount Skydance's $108.4 billion hostile takeover and plans to back Netflix's existing deal by Wednesday.
- Board members cite financing and structural concerns, noting Paramount Skydance's reliance on $41 billion equity, $54 billion debt from Bank of America, Citi and Apollo, and withdrawn $1 billion Tencent funding.
- Paramount CEO David Ellison launched a $30-per-share, all-cash tender offer directly to Warner shareholders after Netflix earlier this month emerged with a $27 cash-and-stock bid.
- On Tuesday, Affinity Partners withdrew backing, removing a political-financing advantage linked to Jared Kushner and President Donald Trump; WBD shares dipped before closing at $28.90 as Netflix could gain Warner content library if Paramount is rejected.
- Analysts this month say a renewed bidding war looks inevitable as Paramount may raise its $30 offer, while President Donald Trump and U.S. regulators could prolong approval and worry the board.
343 Articles
343 Articles
Roundup: Warner Bros. Discovery recommends shareholders reject Paramount Skydance's tender offer
LOS ANGELES, Dec. 17 (Xinhua) -- The board of Warner Bros. Discovery (WBD), a leading global media and entertainment company, on Wednesday recommended that shareholders reject Paramount Skydance's 108.4-billion-U.S.-dollar tender offer and reiterated its support for the Netflix combination. Read full story
Despite the increased interest of Paramount in buying Warner Bros., this was chosen by Netflix's offer, describing it as “uper”. According to our report last week, Paramount launched a proposal to Warner Bros. Discovery,...
Warner Bros Discovery (WBD) has rejected a $108 billion takeover bid from American media conglomerate Paramount Skydance, saying the offer was no better than the one it already had with Netflix.
Associated Press News
What to know about bidding war between Netflix and Paramount for Warner Bros.
Warner Bros. is telling shareholders of the company that it believes a $72 billion buyout offer from Netflix is superior, and to reject a hostile takeover bid from Paramount Skydance.
The offer presented by Paramount Skydance was rejected this Wednesday, December 17 by Warner Bros. Discovery, in favor of that of the streaming giant.
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