"But Paramount Skydance simply won't go away, even though the official process is over. The company has bid, bid again, and is now attempting a hostile takeover to the tune of $108 billion for the whole package, including those cable channels that, notably, are not a part of Netflix's offer. Paramount is run by David Ellison, the son of Oracle cofounder and tech billionaire Larry Ellison, and I have to say his whole vibe feels ripped straight from an episode of Succession."
"Caught up in the middle of all this are HBO, CNN, and Warner Bros. Pictures. Despite world-class brand recognition, legitimate megahits, and legendary franchises, these companies have been so historically, comically mismanaged under a long series of clueless corporate parents that the whole bundle has ended up sold, merged, or spun off into something new more times than I can count. Seriously, it's mind-boggling how badly companies like AOL, Time Warner, and AT&T have fumbled this over the last 25 years."
Netflix won an $83 billion bid for Warner Bros. studios, excluding cable channels, to strengthen its content pipeline for more than 325 million subscribers. Paramount Skydance continues to pursue Warner Bros. Discovery, offering $108 billion for the entire company including cable channels and attempting a hostile takeover. Paramount is led by David Ellison, son of Oracle cofounder Larry Ellison, and is leveraging family wealth and political connections to expand into a media conglomerate. Core assets in the deal include HBO, CNN, and Warner Bros. Pictures. Those assets endured long-term mismanagement by prior corporate owners such as AOL, Time Warner, and AT&T, leading to repeated sales, mergers, and spin-offs over 25 years.
Read at The Verge
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