"We've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match. This transaction was always a 'nice to have' at the right price, not a 'must have' at any price."
Paramount Skydance, led by David Ellison, is positioned to acquire Warner Bros. Discovery after Netflix exited the bidding process. Netflix Co-CEOs Ted Sarandos and Greg Peters announced the withdrawal, stating the price required to match Paramount's latest offer made the deal financially unattractive. Netflix characterized the transaction as a desirable opportunity at the right price but not a necessity at any cost. The company maintained its disciplined approach to acquisitions, declining to escalate its bid further. Warner Bros. Discovery's board had previously determined Paramount's offer superior to Netflix's proposal.
#media-acquisition #paramount-skydance #warner-bros-discovery #netflix-bidding-war #entertainment-industry
Read at www.mediaite.com
Unable to calculate read time
Collection
[
|
...
]