General : [Update] Netflix withdraws Warner offer; way open for Paramount

[tweetiepooh]

Originally Posted by Carth

wow . . does this mean balaclava's, baseball bats, and hostages?

Worse - lawyers and accountants

[Dingbat]

Originally Posted by tweetiepooh

Worse - lawyers and accountants

And, worst of all, politicians.

[denphone]

Originally Posted by vincerooney

apparently paramount are going to put in a hostile takeover

Indeed.


https://www.theguardian.com/business...arner-bros-bid

David Ellison’s Paramount Skydance is not giving up in its aggressive campaign to acquire Warner Bros Discovery (WBD), launching a hostile bid despite the announcement on Friday that Netflix had agreed to buy the company’s studio and streaming operation.


Netflix’s accepted bid valued the company at $27.75 a share, though the entertainment company did not agree to acquire WBD’s traditional television assets, including the news network CNN.

Paramount’s all-cash tender offer sent directly to shareholders on Monday morning is for $30 a share and would be for the entire company, offering a total enterprise value of $108.4bn, a major premium to the company’s stock price.

https://www.bbc.co.uk/news/articles/c5y6p5ypgmzo

Until recently, Warner’s board was recommending the Netflix bid and telling shareholders not to go for Paramount. But Paramount has increased its offer and Netflix then declined to increase its own.

The Netflix deal would have transferred parts of Warner’s IP to Netflix. The Paramount deal is to buy the entire company lock stock and barrel. So if you’ve been missing Friends, it’s not going to reappear on Netflix now, and you’ll probably have to get a P+ sub, though with what Paramount is paying for this, the chances of them piling everything into their current subscriber offer without trying to claw it back with bolt-on subs or all-round increases has got to be slim.

[1701-e]

Great move by Netflix. Drove the price up and they get a hefty compensation Paramount overpaying though trumpf will be happy. CNN will be in trouble now.