Paramount Makes New Hostile Offer for Warner Bros.

Key Takeaways

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Warner Bros. Discovery has signed an exclusive sales agreement with Netflix, committing to sell its Hollywood studios and streaming business for $27.75 per share.
Paramount Skydance, led by David Ellison, is making a second hostile bid to acquire Warner Bros., with Larry Ellison guaranteeing $40.4 billion of the required $78 billion.
In response to criticisms from DC Comics managers, Ellison has increased the amount offered to WBD shareholders from $5 billion to $5.8 billion if they reject the Netflix deal.
Paramounts offer values at $30 per share for the TV channels, a key difference compared to Netflixs proposal, and much of the funding comes from Middle Eastern families, which has raised concerns among WBD shareholders. The final decision rests with Warner Bros. Discovery shareholders as they weigh the offers.

Paramount Skydance Tables Second Hostile Bid for Warner Bros., Increases Offer Amidst Netflix Deal

Warner Bros. Discovery (WBD) has signed an exclusive sales agreement with Netflix, and WBD advises its shareholders to approve the deal. However, Paramount Skydance continues its attempt to acquire Warner Bros., resulting in a second hostile bid. Paramount Skydance recently announced that Larry Ellison, father of CEO David Ellison, will guarantee $40.4 billion of the $78 billion needed for the acquisition. Despite this, the WBD board of directors has rejected David Ellison’s hostile takeover attempt, finding their offer less attractive than the agreement with Netflix. Netflix has committed to buying Warner Bros.’ Hollywood studios and streaming business for $27.75 per share, a binding and enforceable agreement. To counter criticisms from managers at DC Comics (parent company of Batman and Superman), Ellison increased the amount to be paid to WBD shareholders from $5 billion to $5.8 billion if they reject the Netflix deal. Larry Ellison’s fortune, valued at $250 billion, serves as a strong guarantee to reassure Warner Bros. Discovery shareholders; however, this guarantee has not changed the board’s assessment.

Enhanced Paramount Offer Values at $30 per Share, Backed by Middle Eastern Families Amidst Netflix Bid for Warner Bros.

Paramount offers $30 per share for the TV channels. In contrast, Netflix is offering $27.75 per share for Warner Bros. Studios and HBO—a key difference between the two proposals. According to CNN, much of Paramount Skydance’s proposal is funded by Middle Eastern families, which has raised concerns among Warner Bros. Discovery shareholders regarding Ellison’s ability to meet the proposed values. Ultimately, the decision rests with Warner Bros. Discovery shareholders as they weigh the offers.

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