Paramount launches hostile bid for Warner Bros. Discovery despite Netflix deal
3 days ago
- #corporate-takeover
- #streaming-wars
- #media-merger
- Paramount launches a hostile bid to acquire Warner Bros. Discovery for $30 per share.
- The bid is backed by funds from Saudi Arabia, Qatar, UAE, and Jared Kushner's Affinity Partners.
- Netflix previously agreed to buy part of Warner Bros. Discovery for $27.75 per share, excluding cable channels.
- Paramount's offer is all-cash, supported by the Ellison family fortune and a $54B funding commitment.
- The deal could create a streaming giant with over 400M subscribers, surpassing Disney.
- Trump has publicly criticized the Netflix-Warner deal, calling it an antitrust 'problem'.
- Warner Bros. Discovery plans to split into two entities: one for streaming/studio assets, another for cable networks.
- Shares of Warner Bros. Discovery rose 6%, while Netflix fell 1.3% and Paramount gained 4%.