"Netflix had the legal right to match the PSKY offer. As you all know, they ultimately decided not to do that. That then resulted in a signed agreement with PSKY as of this morning. So that's where everything stands, Bruce Campbell, Warner Bros' chief revenue and strategy officer, said in the townhall."
"On Thursday, Netflix declined to match Paramount's latest $31-per-share offer, which Warner Bros deemed superior to the streaming pioneer's $27.75-per-share agreement for its studio and streaming assets."
Warner Bros Discovery has accepted a $110 billion acquisition offer from Paramount Skydance, concluding a high-stakes bidding competition. Netflix exercised its legal right to match Paramount's final offer of $31 per share but chose not to proceed, allowing the deal to move forward. This surpassed Netflix's previous agreement of $27.75 per share for Warner Bros' studio and streaming assets. The acquisition represents a significant consolidation in the entertainment industry. California regulators are preparing a thorough review of the merger, recognizing its potential to substantially reshape the Hollywood landscape and competitive dynamics.
#media-acquisition #warner-bros-discovery #paramount-skydance #streaming-industry #hollywood-consolidation
Read at www.independent.co.uk
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