Warner Bros. Rejects Paramount Bid
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In rejecting Paramount ’s hostile takeover bid, Warner Bros. questions the Ellison family trust and its commitment to a $77.9 billion deal.
Warner Bros. Discovery rejected the $30/share takeover bid from David Ellison's Paramount Skydance, with WBD unanimously backing the deal with Netflix.
Warner Bros. Discovery CEO David Zaslav said Wednesday that the regulatory review of Warner’s deal with Netflix has begun, even as Paramount mounts a hostile takeover bid. Two senators are now coming forward and pressing Attorney General Pam Bondi to recuse herself from the review of the deal.
Netflix wants to buy Warner Bros. Discovery to challenge YouTube's dominance. Netflix claims this merger would only slightly increase its viewership
Ted Sarandos and Greg Peters, the co-CEOs of Netflix, issued a memo to staffers that conveyed their belief that the company’s deal to buy Warner Bros. and HBO Max will withstand a counterattack by David Ellison’s Paramount Skydance and will clear regulatory hurdles.
Interviews with dozens of actors, producers and camera crews reveal an industry attempting to weigh the lesser of two horrible choices.