Paramount ups Warner Brothers hostile takeover bid in latest attempt to outdo Netflix

Paramount on Tuesday enhanced its offer to buy Warner Brothers Discovery and undercut the streamer’s deal with Netflix that still needs final approval from the Trump administration.The WBD board accepted Netflix’s offer of $27.75 per share for Warner Bros. and HBO in an auction late last year. But Paramount has offered $30 per share.
Paramount said it is now also offering to pay a $2.8 billion termination fee to Netflix and offered solutions to WBD’s debt financing costs and obligation. It also promised Oracle’s Larry Ellison will personally guarantee $43 billion.
“The additional benefits of our superior $30 per share, all-cash offer clearly underscore our strong and unwavering commitment to delivering the full value WBD shareholders deserve for their investment,” Paramount CEO David Ellison said in a statement. “We are making meaningful enhancements – backing this offer with billions of dollars, providing shareholders with certainty in value, a clear regulatory path, and protection against market volatility.”
Paramount said the new deal has a total equity value of $78 billion and enterprise value of $108 billion, and touted the possible acquisition as “pro-consumer, pro-creative talent and therefore pro-competitive.”
Misty Severi is a news reporter for Just The News. You can follow her on X for more coverage.

Read Full Article: https://justthenews.com/nation/culture/paramount-ups-warner-brothers-hostile-takeover-bid-latest-attempt-outdo-netflix?utm_source=justthenews.com&utm_medium=feed&utm_campaign=external-news-aggregators