"Netflix is buying Warner Bros. At least, the two sides reached an agreement on Friday for WBD's streaming and studio assets. On Monday, Paramount, which was also bidding on WBD, launched a hostile bid for it. Paramount CEO David Ellison said the deal "represents a powerful opportunity to strengthen both companies and the entertainment industry as a whole," according to a memo sent to Paramount employees first obtained by BI's James Faris."
"Two titans of different eras battle over something they believe is crucial to their future. The Paramount-Netflix fight over Warner Bros. Discovery sounds like a great Hollywood script. Instead, it's a reality, and set to reshape the entertainment industry one way or another. There's a lot to unpack here, so let's get into it. Wait, Paramount Skydance is trying to buy Warner Bros.? I thought Netflix was buying Warner Bros.? You're right, and you're right."
"What does that even mean? How can Paramount make a deal with a company that already turned it down? I did call it 'hostile.' Paramount's Ellison (more on him below) is appealing directly to WBD shareholders that his company is the better fit. Hostile bids aren't always easy, but they have been successful in the past. Here's a list of some of the biggest."
Paramount and Netflix are locked in competing bids for Warner Bros. Discovery. Netflix reached an agreement to acquire WBD's streaming and studio assets for $27.75 per share while excluding TV networks such as CNN, TNT, and TruTV. Paramount launched a hostile bid to acquire the entire company at $30 per share and is appealing directly to WBD shareholders. Paramount CEO David Ellison framed the proposal as a way to strengthen both companies and the entertainment industry. Netflix emphasized its distribution scale and potential benefits for franchises and jobs. The outcome could reshape media ownership, distribution strategies, and industry employment.
Read at Business Insider
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