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Warner Bros. Board Rejects $108.4 Billion Paramount Bid, Saying Netflix Deal Still Superior
The Warner Bros. Discovery Board unanimously found Paramount's $40.65 billion offer riskier and less certain than Netflix's binding $72 billion merger, urging shareholders to reject it.
- The Warner Bros. Discovery Board unanimously recommends that shareholders reject Paramount's $108.4 billion bid and support the Netflix deal.
- Paramount's bid lacks a full unconditional financing commitment from the Ellison family, raising concerns about the credibility of the equity commitment.
- The Netflix merger has enforceable commitments, no need for equity financing, and is fully backed by Netflix, a public company with a market cap over $400 billion.
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Warner Bros. Discovery's board of directors (WBD) has recommended that its shareholders not go to the hostile opa of Paramount Skydance, launched shortly after the announcement of integration with Netflix, an operation they are betting on.Continue reading...
·Granada, Spain
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Warner Bros. urges investors to reject ‘inferior’ Paramount bid
Warner Bros. Discovery Inc., the parent of HBO and CNN, is advising its shareholders to reject a hostile takeover bid by Paramount Skydance Corp. in favour of its original agreement with streaming giant Netflix Inc., deeming the Paramount offer “inferior” and “inadequate.”
·Canada
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Total News Sources84
Leaning Left17Leaning Right11Center30Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 29%
C 52%
R 19%
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