Warner Bros to reject $108bn Paramount bid, reports say
BBC••general
Key Points:
- Warner Bros Discovery plans to recommend its shareholders reject Paramount Skydance's $108.4bn takeover bid, citing concerns over the deal's financing and other issues.
- Paramount claims its offer is superior to Warner Bros' $72bn agreement with Netflix for its film and streaming businesses, while also seeking to acquire the entire company including TV networks.
- Affinity Partners, a key backer of Paramount's bid founded by Jared Kushner, has reportedly withdrawn support due to conflicts involving "two strong competitors."
- The proposed takeover faces potential regulatory scrutiny in the US and Europe, with industry groups like the Writers Guild of America opposing the merger over fears of lower wages, job cuts, and reduced content availability.
- Acquiring Warner
