"Netflix had won the auction for the studio and streaming company with an $82.7bn bid a few days earlier taking control of prize assets including the Harry Potter and DC Comics superhero film franchises, as well as HBO, home to hit shows including Game of Thrones, The White Lotus and Succession. The streaming company's deal does not cover WBD's cable channels, which include CNN, TBS and TNT, which are set to be spun off into a separate company next year."
"The Financial Times said the board had less confidence in it because it is backed by the Ellison family trust, which is worth close to $250bn in Oracle stock, rather than personally by Larry Ellison. WBD is expected to focus on four central criticisms of Paramount's offer, arguing that its value, financing and terms are deficient compared with Netflix's cash and shares offer, according to reports."
Warner Bros Discovery's board is poised to recommend shareholders reject Paramount's $108bn hostile bid, clearing the path for Netflix's earlier $82.7bn winning offer. Netflix's purchase includes major film franchises and HBO, while WBD's cable channels such as CNN, TBS and TNT are slated for a separate spin-off next year. The board reportedly trusts Netflix's cash-and-stock financing more than Paramount's all-cash proposal backed by the Ellison family trust. WBD is expected to argue that Paramount's offer is deficient on value, financing and terms. Affinity Partners withdrew support for Paramount's bid, and Paramount has gone hostile.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]