"Paramount Skydance's new offer of $31 per share for WBD's entire portfolio, including its cable channels, puts the deal at roughly $111 billion. Netflix had offered $27 a share for only Warner Bros.' film studio and HBO Max, a deal worth approximately $83 billion."
"In a press statement, Netflix co-CEOs Ted Sarandos and Greg Peters said, "...this transaction was always a 'nice to have' at the right price, not a 'must have' at any price.""
"A Paramount Skydance-Warner Bros. Discovery merger will likely have an easier path to approval, thanks to the Ellison family's close ties to the Trump administration."
David Ellison's Paramount Skydance successfully outbid Netflix for Warner Bros. Discovery after months of aggressive pursuit. Paramount Skydance submitted a superior offer of $31 per share for WBD's entire portfolio, valued at roughly $111 billion, compared to Netflix's $27-per-share offer for only the film studio and HBO Max worth approximately $83 billion. Netflix declined to raise its bid and withdrew from the competition, stating the transaction was a "nice to have" at the right price, not a "must have" at any price. The Paramount Skydance deal faces a smoother regulatory approval path due to the Ellison family's close ties to the Trump administration.
Read at Kotaku
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