"We believe we would have been strong stewards of Warner Bros.' iconic brands. But this transaction was always a 'nice to have' at the right price, not a 'must have' at any price."
"A Warner Bros. Discovery buyout would reshape Hollywood and the wider media landscape. And unlike Netflix - which only wanted to buy Warner's studio and streaming business for $27.75 per share - Paramount wants the entire company. That means HBO Max, cult-favorite titles like 'Harry Potter' and even CNN could soon find themselves under a new roof."
"Paramount's CBS has seen significant editorial shifts, notably with the installation of Free Press founder Bari Weiss at CBS News, under new Skydance ownership. And if Paramount's acquisition of Warner is successful, critics warn of similar changes at CNN."
Netflix declined to increase its offer for Warner Bros. Discovery's studio and streaming business, determining the higher price required would make the deal financially unattractive. Netflix co-CEOs Ted Sarandos and Greg Peters stated the acquisition was desirable at the right price but not essential at any cost. Paramount, owned by Skydance, submitted a superior bid of $31 per share and seeks to acquire the entire company, including HBO Max, Harry Potter titles, and CNN. Unlike Netflix's limited interest in specific assets, Paramount's comprehensive acquisition would reshape Hollywood's media landscape. Paramount's parent company has implemented editorial changes at CBS News, raising concerns about potential similar shifts at CNN under new ownership.
Read at Fast Company
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