Paramount Skydance challenges Netflix deal for Warner Bros. Discovery
The Washington Post••business
Key Points:
- Paramount Skydance launched a hostile all-cash bid to acquire Warner Bros. Discovery, shortly after Netflix announced its $83 billion acquisition deal for the company.
- The bid comes from Paramount Skydance, a new entity formed this year under CEO David Ellison.
- Paramount Skydance's offer targets the entire Warner Bros. Discovery company, including CNN and other cable networks that Netflix planned to spin off in its proposal.
- Financial backers of the Paramount Skydance bid include Jared Kushner, President Donald Trump’s son-in-law.
- This unsolicited bid challenges Netflix’s cash-and-stock deal and aims to take the offer directly to Warner Bros. Discovery shareholders.
