"When CEO David Zaslav decided to split the recently merged Warner Bros. Discovery into two separate companies and sell them, it seemed like every other entertainment conglomerate wanted to purchase the Warner Bros. half, which covers the company's movie and TV studios. In the end, Netflix appeared to prevail. However, a new contender has entered the arena, and it's interrupted the deal's final talks by not just targeting the Warner Bros. half of the company, but the whole package."
"The deal is valued at $108.4 billion, compared to Netflix's $87 billion offer. Paramount is campaigning for this in public, too; the company has launched a website, strongerhollywood.com, advocating for its deal over Netflix's. Ellison isn't in this himself, as Paramount's all-cash offer is sourced from several companies. Most contentiously, it includes sovereign wealth funds from Saudi Arabia, Qatar, and the United Arab Emirates, as well as money from Affinity Partners, which is run by President Trump's son-in-law, Jared Kushner."
David Zaslav split Warner Bros. Discovery into two companies, separating Warner Bros. studios from Discovery's broadcast-centric channels. Netflix initially appeared to be prevailing in bids for the Warner Bros. half. Paramount CEO David Ellison mounted a hostile takeover offer for both Warner Bros. and Discovery, valuing the deal at $108.4 billion versus Netflix's $87 billion. Paramount is publicly promoting the bid via strongerhollywood.com. The all-cash offer is funded by multiple parties, including sovereign wealth funds from Saudi Arabia, Qatar, and the UAE, and Affinity Partners. The campaign must convince shareholders while Netflix's deal looks close and investors may worry about Paramount's recent retooling.
Read at Inverse
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