Search results for Skydance
Telecommunications & Media
Warner Bros Discovery agrees 110 billion dollar Paramount merger deal
Warner Bros Discovery (WBD) and Paramount Skydance have officially announced their merger, The Verge reported on Feb. 27. The companies signed an agreement for Paramount to acquire WBD for $110 billion. WBD had previously pursued an $83 billion merger with Netflix, but Paramount entered the race with a hostile bid attempt and additional offers, and WBD judged Paramount’s final offer superior.
Telecommunications & Media
Paramount to buy Warner Bros Discovery after Netflix withdraws
Netflix has withdrawn from the race to buy Warner Bros Discovery, and a Paramount group led by David Ellison has finalised a $111 billion acquisition, TechCrunch reported on Feb. 26. Warner Bros Discovery approved Paramount Skydance’s $31-a-share offer as a superior proposal. Netflix co-CEOs Ted Sarandos and Greg Peters said their negotiated deal could have created shareholder value but was not financially attractive to match the latest bid.
Telecommunications & Media
Sarandos to visit White House amid bid talks for Warner Bros Discovery
Netflix co-CEO Ted Sarandos will visit the White House on Feb. 26 to discuss political issues related to negotiations to acquire Warner Bros Discovery, Politico reported. Netflix has agreed to buy WBD’s streaming and studio unit for $27.75 a share, or $82.7 billion, and is undergoing U.S. Justice Department antitrust review. Paramount Skydance made a rival offer for WBD at $31 a share, raising the stakes. Trump has demanded Netflix fire director Susan Rice.
