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Warner 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noting Paramount Skydance's reliance on $41 billion equity, $54 billion debt from Bank of America, Citi and Apollo, and withdrawn $1 billion Tencent funding.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.
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Associated Press News+14 Reposted by 14 other sources
Warner Bros asks investors to reject takeover bid from Paramount Skydance
Warner Bros. is telling shareholders to reject a takeover bid from Paramount Skydance, saying that a rival bid from Netflix will be better for customers.
·United States
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Sydney Morning Herald+2 Reposted by 2 other sources
As 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.
·Sydney, Australia
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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?
Coverage Details
Total News Sources106
Leaning Left15Leaning Right15Center29Last UpdatedBias Distribution49% Center
Bias Distribution
- 49% of the sources are Center
49% Center
L 26%
C 49%
R 25%
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