WBD Considers Partnering With David Ellison, Paramount Over Netflix
Business Insider • • business
Key Points:
- Paramount Skydance has increased its offer to acquire Warner Bros. Discovery (WBD) to $31 per share, which has excited the WBD board and is considered potentially superior to Netflix's $27.75 per share bid.
- WBD's board has not yet decided if Paramount's latest offer is better, but if so, Netflix will have four days to submit a higher bid to remain competitive.
- Paramount addressed previous concerns by securing a guarantee from billionaire Larry Ellison and agreeing to cover WBD's breakup fees with Netflix, also adding a "ticking fee" to compensate shareholders if the deal closes late.
- Netflix's bid focuses on acquiring WBD's streaming and studio assets without cable channels, promoting job protection
