"the entertainment giant was careful to mention that it has already received multiple unsolicited offers "for both the entire company and Warner Bros." We knew about WBD's plan to split back into two corporate entities, and that the company had just refused a lowball acquisition proposal from David Ellison's newly merged Paramount Skydance. But what was new and very telling was CEO David Zaslav's humblebragging about WBD's portfolio "receiving increased recognition by others in the market.""
"But when you look back at Warner Bros.' long history of mergers and acquisitions, it is easy to see how poorly those deals have always shaken out for everyone except the involved companies' executive leadership. This flavor of corporate consolidation in pursuit of endless growth and increasing shareholder value has invariably led to devastating job cuts and price hikes for consumers - all while chipping away at the competitiveness that encourages companies to offer quality products."
Warner Bros. Discovery announced openness to a sale and reported multiple unsolicited offers for both the entire company and Warner Bros. The company plans to split back into two corporate entities and recently refused a lowball acquisition proposal from Paramount Skydance. CEO David Zaslav framed the situation as increased market recognition for WBD's portfolio. Zaslav retained his position amid multiple rounds of layoffs and a rebranding effort that targeted the HBO name. Warner Bros.' long history of mergers and acquisitions has repeatedly produced executive benefits while driving job cuts, raising consumer costs, and weakening competitive incentives for quality.
Read at The Verge
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