"On Thursday, after Warner's board announced that Skydance-owned Paramount's offer was superior to the agreement it had previously struck with Netflix, the streaming giant said that at the price that would be required to buy Warner, a deal was 'no longer financially attractive.'"
"Unlike Netflix's bid, Paramount wants all of Warner's operations, including networks like CNN and Discovery. That would put CNN under the same roof as Paramount's CBS and combine two of Hollywood's last five remaining studios."
Netflix declined to increase its offer for Warner Bros. Discovery's studio and streaming operations, determining the deal was no longer financially attractive at the required price. Paramount's Skydance-backed offer proved superior to Netflix's previous agreement. Unlike Netflix, Paramount seeks all of Warner's operations, including networks like CNN. This acquisition would consolidate CNN under the same ownership as Paramount's CBS and combine two of Hollywood's five remaining major studios, significantly reshaping the media landscape.
Read at ABC7 Los Angeles
Unable to calculate read time
Collection
[
|
...
]