Warner Bros to stick with Neftlix after rejecting Paramount’s amended takeover offer
Warner Bros sends advice to stakeholders after latest takeover development
- Warner Bros Discovery is advising its shareholders to accept Netflix's lucrative bid for its studio and streaming operations.
- The company has consistently rebuffed takeover attempts from Paramount, stating their proposals do not serve the best interests of the company or its shareholders.
- Netflix's proposed acquisition, valued at $72bn, focuses solely on Warner's legacy TV and film production arms and platforms like HBO Max.
- Paramount has made a hostile counteroffer, initially $77.9bn and later $108.4bn, aiming to acquire the entire Warner Bros Discovery company, including networks such as CNN and Discovery.
- Both potential mergers are anticipated to attract considerable antitrust scrutiny from the US Justice Department and international regulators.