"Paramount Skydance isn't ready to give up the fight for Warner Bros. Discovery. The David Ellison-run company just launched at $30 offer for all of WBD, even though Netflix agreed to buy WBD's streaming and studio assets last week. "Paramount's strategically and financially compelling offer to WBD shareholders provides a superior alternative to the Netflix transaction," Paramount said in a statement on Monday morning."
"Netflix's offer to buy Warner Bros. and HBO "offers inferior and uncertain value and exposes WBD shareholders to a protracted multi-jurisdictional regulatory clearance process with an uncertain outcome along with a complex and volatile mix of equity and cash," the Paramount statement continued. Even before Paramount's hostile bid, the Netflix-Warner Bros. tie-up wasn't a lock, as it needs approval from regulators in the US and abroad."
Paramount Skydance launched a hostile $30-per-share offer to acquire all of Warner Bros. Discovery after being outbid by Netflix for WBD's streaming and studio assets. Paramount described its offer as strategically and financially superior and said the Netflix transaction offers inferior and uncertain value while exposing shareholders to a protracted, multi-jurisdictional regulatory clearance process and a complex mix of equity and cash. The Netflix-Warner Bros. tie-up requires regulatory approvals in the US and abroad, leaving the outcome uncertain. Paramount's lawyers accused WBD of abandoning a fair transaction process and signaled plans to appeal directly to shareholders and regulators. Warner Bros. Discovery owns the Warner Bros. film studio, HBO, HBO Max, and TV networks like CNN, TNT, and TruTV. Paramount Skydance controls film studio Paramount Pictures, streamers Paramount+ and Pluto T
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