Warner Bros. backs Netflix bid
Digest more
The visit came on the same day that WBD's board officially rejected Paramount Skydance's hostile bid for the company.
Warner Bros. and Netflix leaders put on a show of force Wednesday when Netflix co-CEOs paid a visit to the Warner Bros. lot in Burbank.
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 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.
Warner Bros. Discovery rejected the $30/share takeover bid from David Ellison's Paramount Skydance, with WBD unanimously backing the deal with Netflix.
Netflix wants to buy Warner Bros. Discovery to challenge YouTube's dominance. Netflix claims this merger would only slightly increase its viewership