US EditionWarner Bros. Plans to Reject Paramount Offer, Back Existing Netflix Deal: Report
- 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noting Paramount Skydance's reliance on $41 billion equity, $54 billion debt from Bank of America, Citi and Apollo, and withdrawn $1 billion Tencent funding.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.
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95 Articles
Sydney Morning Herald
Brisbane TimesAs media moguls show Warner Bros the money, keep an eye on CNN – and US democracy
Paramount and Netflix are (almost) knocking each other out to buy Warner Bros Discovery – but there are bigger things than cable TV and movie studios at stake.
The takeover of Warner Bros Discovery is a source of tension. Paramount Skydance has proposed $108.4 billion, but the board of directors could oppose it. And Affinity Partners, investment firm...
The takeover fight for Warner Bros. is becoming more and more political: Donald Trump's son-in-law is now drawing the line. Was it billions – or the critical news channel CNN?
One of Paramount's financial partners, held by Donald Trump's generations, Jared Kushner, is withdrawing from the war on the basis of the information according to which Warner Bros' administration council would prefer Netflix, via Sky News.
Warner Bros. owners should reject Paramount's bid for the company and choose Netflix instead. At the same time, Jared Kushner drops out of the bidding war.
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