Warner Bros. Falls Below Netflix Offer as Bidding War Hopes Cool
Bloomberg.com••business
Key Points:
- Traders are increasingly viewing Netflix as the leading bidder for Warner Bros. Discovery Inc., overshadowing Paramount Skydance Corp.'s offer.
- Warner Bros. shares dropped 2.1% to $27.61, falling below Netflix's $27.75 per share cash and stock offer for its studios, streaming, and HBO units.
- Warner Bros. has advised shareholders to reject Paramount's $30 per share all-cash bid, which includes the entire company and its cable networks such as CNN and TNT.
