"A Warner Bros. merger with either company would alter the landscape in Hollywood and will face intense scrutiny from U.S. regulators as it would impact movie making, consumer streaming platforms, and, in Paramount's case, a major source of news for millions of people. The competing offers set the stage for combining some of the most beloved entertainment properties. Netflix's vast library includes "Stranger Things" and "Squid Game,""
"Paramount said Monday it had submitted six proposals to Warner over a 12 week period before its offer was rejected in favor of Netflix. So Paramount decided to go straight to Warner shareholders with a bid it says is worth about $79.9 billion, or $30 per share in cash. Paramount, unlike Netflix, is also offering to buy the cable assets of Warner, and asking shareholders of the company to reject the Netflix bid."
Paramount made a hostile $30-per-share offer for Warner, valuing the company at about $77.9 billion, and urged shareholders to reject Netflix's $27.75-per-share bid. Paramount offered to purchase Warner's cable assets and said its proposal carried roughly $18 billion more in cash. Both Paramount and Netflix seek Warner's film, TV, and streaming assets, including HBO and Warner Bros. Pictures, along with major franchises. Warner CEO David Zaslav has been soliciting offers since at least October. U.S. regulators are expected to scrutinize any merger for effects on moviemaking, streaming competition, and news distribution.
Read at Fast Company
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