""None of them are particularly great friends of mine," President Donald Trump told reporters on Monday, while discussing whom he favored in the current multibillion-dollar financial fistfight over the future of Warner Bros.-Discovery (WBD). Trump was referencing the two current suitors for the beleaguered, serially merged Warner Bros. entertainment empire: Paramount-Skydance and Netflix. Trump's announcement that he had no "great friends" in the messy WBD takeover war must have come as a surprise to the Paramount-Skydance bidding group, which includes the president's son-in-law Jared Kushner."
"Paramount is offering to buy out WBD shareholders directly for $108 billion. David Ellison, the Skydance CEO who put together an investor group that includes three Middle Eastern sovereign wealth funds, Kushner's Affinity Partners, and the largesse of his Silicon Valley mega-tycoon dad, Larry Ellison, promises a smooth ride for the merger in Washington, since the Ellisons' close alliance with Trump will win them the necessary regulatory approvals."
President Donald Trump said he had no "great friends" among the suitors, naming Paramount-Skydance and Netflix. Paramount mounted a hostile takeover days after WBD accepted Netflix's $82.7 billion cash-and-equity bid. Paramount offered $108 billion to buy out WBD shareholders directly. David Ellison assembled an investor group including three Middle Eastern sovereign wealth funds, Kushner's Affinity Partners, and Larry Ellison. The Ellisons expect their close alliance with Trump to secure regulatory approvals in Washington. Trump has used the Federal Communications Commission and the Federal Trade Commission to exert leverage over media companies. Paramount agreed to distribute Rush Hour 4 at Trump's request.
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