Paramount Skydance gained fresh ammunition in its campaign to convince Warner Bros Discovery shareholders that its $108.4 billion bid for the storied Hollywood studio, HBO, and Discovery Channel is the better offer: the market's response to Comcast's spin-off.
Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) has rejected Paramount Skydance's amended bid to acquire the media conglomerate, reiterating that the offer does not represent a superior alternative to its existing agreement with Netflix. The revised Paramount proposal, valued at approximately $108.4 billion in all-cash terms, included increased financing guarantees, including a personal $40 b...
The trade association representing theater owners warned a congressional committee that the acquisition of Warner Bros. Discovery by either Netflix or Paramount will have a negative impact on their business. Cinema United argued that the consolidation threatens to reduce the number of movies released theatrically and increase the leverage of studios in exhibition negotiations.
The bidding war for Warner Bros. Discovery (WBD) and its extensive library of hit TV shows and films like “Harry Potter,” “Game of Thrones” and the DC Comics titles, is dragging on.
The board of Warner Bros Discovery (WBD) has urged its shareholders to reject an amended hostile bid by Paramount Skydance while maintaining its unanimous support for a rival offer by Netflix.
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