"Eight strikes and Paramount's out. Wait-isn't it supposed to be three strikes? Paramount CEO David Ellison apparently did not get the memo. Ellison received official word last week that his company's takeover bid for Warner Bros. Discovery had been rejected for the eighth time. It is becoming difficult not to wonder whether Ellison really should have called it quits after the third offer back in October-his last unsolicited, bungled bid before Warner CEO David Zaslav launched a bidding process for the storied studio company."
"While Paramount is reportedly becoming frustrated with the process, many expect another attempt from Ellison, as rumors swirl that Zaslav could be persuaded by an offer of $34 per share-an increase of about $10 billion-up from its current $30-per-share offer. But therein lies the challenge for Paramount and reflects Netflix's adept strategic maneuvering. Netflix Co-CEOs Ted Sarandos and Greg Peters have positioned the streaming giant in a heads-I-win, tails-you-lose scenario, no matter the outcome of the Warner bidding war."
Paramount CEO David Ellison submitted multiple takeover bids for Warner Bros. Discovery, with the eighth offer officially rejected. Ellison continued pursuing offers after a bungled unsolicited bid and after Warner CEO David Zaslav initiated a formal auction. Paramount repeatedly declined to present a "best and final" offer despite board requests, which eroded credibility with Warner and Wall Street. Netflix positioned itself strategically during the auction, creating a heads-I-win, tails-you-lose outcome. If Paramount loses, Netflix would acquire a legacy studio and creative talent to strengthen its still-developing film operations, where it has not yet won Best Picture.
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