Paramount responds to WBD by sticking with its original bid
CNN••business
Key Points:
- Paramount is maintaining its $30 per share offer for Warner Bros. Discovery (WBD) and urges shareholders to support its hostile takeover bid, claiming it offers superior value compared to WBD's existing Netflix deal.
- WBD continues to defend its agreement to sell Warner Bros. and HBO to Netflix, excluding CNN and other cable assets, arguing this deal is less risky and more certain for shareholders than Paramount's proposal.
- Paramount CEO David Ellison asserts that their offer provides greater value and a faster, more certain completion, highlighting that the Netflix deal's current per-share value is approximately $27.42, below Paramount’s $30 cash offer.
- A major dispute centers on the valuation of WBD’s cable assets, including CNN, which will
