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Economy|MediaWarner Bros rejects latest Paramount bid but open to ‘best and final’ offerThe Warner Bros Discovery board says it remains committed to the Netflix deal, despite considering possible bids for Paramount.

## Warner Bros Discovery and Paramount Skydance Acquisition Developments

GBy Grace BennettFeb 18, 20261 min read

Warner Bros Discovery and Paramount Skydance Acquisition Developments

Warner Bros Discovery, renowned for its major franchises including Game of Thrones, Harry Potter, and DC Comics, has declined Paramount Skydance's recent acquisition offer. The offer was valued at $30 per share. Warner Bros has given Paramount a period of seven days to submit their final proposal.

Warner Bros' board has expressed that the current proposal does not appear to be superior to the existing merger arrangement with Netflix. Paramount is anticipated to propose a revised offer of $31 per share.

Netflix will have the opportunity to match any new terms offered. Warner Bros shareholders are scheduled to vote on the proposed merger with Netflix on Tue, Mar 20, 2024. Netflix has acknowledged the importance of the upcoming shareholder vote, recognizing the distraction caused by ongoing negotiations.

Paramount Skydance has noted that Warner Bros did not engage in meaningful discussions regarding six proposals submitted prior to the Netflix merger announcement on Dec 5, 2023.

Warner Bros has given Paramount a period of seven days to submit their final proposal.
Grace Bennett · Thehackingpost

Both the Warner Bros and Paramount Skydance proposals are facing regulatory scrutiny in Washington, DC, due to concerns about industry consolidation and potential impacts on consumers. The merger would combine CNN and CBS, raising questions about content diversity in traditional TV formats.

Paramount's revised offer, which included a $40 billion equity guarantee from Oracle founder Larry Ellison, was previously rejected. Congressional leaders have expressed apprehension about the potential consequences of either merger.

Senator Cory Booker and Senator Mike Lee have both highlighted concerns about increased corporate control over media content. The Writers Guild has also raised antitrust concerns about the Netflix merger.

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In midday trading, Paramount Skydance's stock has increased by 7.4%, while Netflix shares have risen slightly by 0.4% and Warner Bros Discovery shares are up by 3.4%.

Based on reporting by Al Jazeera.

AI transparency. This article was produced with the assistance of artificial intelligence and published under human editorial oversight. AI systems can make mistakes. Read how we use AI (EU AI Act, Art. 50).
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