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Paramount Skydance Poised to Buy Warner Bros. Discovery After Netflix Walks Away
business1 day ago

Paramount Skydance Poised to Buy Warner Bros. Discovery After Netflix Walks Away

Paramount Skydance is poised to acquire Warner Bros. Discovery after Netflix bowed out of the bidding war, with Paramount’s roughly $111 billion offer for the entire company surpassing Netflix’s deal. Netflix said the deal was no longer financially attractive at the higher price, and Warner Bros. Discovery’s board signaled support for the Paramount proposal. The transaction would fold WBD’s networks and franchises into Paramount’s operations, signaling a major industry consolidation with potential job impacts.

via Variety|
#bid#business#merger
Paramount Lifts Bid for Warner Bros. Discovery to $31/Share
business3 days ago

Paramount Lifts Bid for Warner Bros. Discovery to $31/Share

Paramount raised its offer for Warner Bros. Discovery to $31 a share, signaling the potential for a superior proposal to Netflix’s deal and intensifying a months-long battle over the media company. The revised bid adds ticking fees, a $7 billion termination fee, and coverage of Netflix’s $2.8 billion break‑fee, while dropping an earlier walk‑away condition. Warner Bros. Discovery says it will continue talks and could prompt Netflix to counter if Paramount’s bid is deemed superior. Netflix’s deal remains in effect with a March 20 shareholder vote, amidst antitrust scrutiny from regulators such as the DOJ.

via The New York Times|
#bid#business#merger
Elon Musk Tried to Recruit Mark Zuckerberg for OpenAI Acquisition Bid
technology6 months ago

Elon Musk Tried to Recruit Mark Zuckerberg for OpenAI Acquisition Bid

Elon Musk attempted to involve Mark Zuckerberg in a nearly $100 billion bid to acquire OpenAI, signaling a rare potential alliance between the two tech billionaires amid ongoing AI talent competition and Musk's previous bids to take control of OpenAI. Neither Zuckerberg nor Meta committed to the bid, and the effort highlights the intense rivalry in AI development and talent poaching among Musk, Zuckerberg, and OpenAI.

via Financial Times|
#ai-competition#bid#elon-musk
AI Startup Perplexity Launches $34.5 Billion Bid for Google Chrome
technology6 months ago

AI Startup Perplexity Launches $34.5 Billion Bid for Google Chrome

Perplexity AI has made a $34.5 billion all-cash bid for Google's Chrome browser, aiming to leverage its user base for AI search advancements amid regulatory pressures and antitrust concerns. The bid includes plans to keep Chrome's open-source code and invest heavily in AI development, but Google is unlikely to sell, potentially leading to a lengthy legal battle.

via Reuters|
#ai-browser#antitrust#bid
Adam Neumann's $500M+ Bid to Buy Back WeWork
business1 year ago

Adam Neumann's $500M+ Bid to Buy Back WeWork

WeWork co-founder Adam Neumann has submitted a bid to buy back the bankrupt office-sharing company for more than $500 million, with the details of his financing plan still unclear. WeWork stated that it regularly receives expressions of interest from third parties and is focused on its restructuring efforts to emerge from Chapter 11 in the second quarter as a financially strong and profitable company. Neumann's pursuit of growth at the expense of profit and revelations about his eccentric behavior led to his ouster and derailed an initial public offering in 2019.

via New York Post |
#adam-neumann#bankruptcy#bid
Investor Group Raises Macy's Buyout Bid to $6.6 Billion
business2 years ago

Investor Group Raises Macy's Buyout Bid to $6.6 Billion

An activist investor group seeking to buy Macy's has raised its bid to $24 per share, valuing the retailer at $6.6 billion, a 33.3% premium to Macy's closing share price. The group disclosed additional details about its financing plans and named additional investors as equity partners. Macy's, which recently announced a strategy to turn around its business, stated that it would "carefully review and evaluate" the latest proposal. The retailer has been facing pressure from the investor group since December and has been trying to stay focused on its own strategy for turning around the business amidst falling sales.

via The New York Times|
#activist-investor#bid#business
"Steelers Make Bid to Host 2026 or 2027 NFL Draft"
sports2 years ago

"Steelers Make Bid to Host 2026 or 2027 NFL Draft"

The Pittsburgh Steelers have officially submitted a bid to host the 2026 or 2027 NFL draft, with team president Art Rooney II expressing optimism about the city's chances. Pittsburgh previously hosted the draft in 1948, and the team's history with the event includes drafting quarterback Bobby Layne, who was later traded after expressing reluctance to play for the Steelers.

via NBC Sports|
#art-rooney-ii#bid#nfl-draft
"Byron Allen's $14 Billion Paramount Bid: What's Next for Media Mogul?"
business2 years ago

"Byron Allen's $14 Billion Paramount Bid: What's Next for Media Mogul?"

Byron Allen's $30 billion bid for Paramount has sparked uncertainty on Wall Street, with the stock price rising but still below Allen's offer. While Allen has a history of pursuing deals that didn't materialize, he has also successfully completed acquisitions in the past. Analysts are divided on the feasibility of the bid and the potential for turning around Paramount's linear TV business. Allen's interest in linear TV assets contrasts with the industry trend towards streaming, and his bid could potentially attract other interested parties.

via Hollywood Reporter|
#acquisition#bid#business
"Byron Allen's $14 Billion Bid Sends Paramount Global Board into Deliberation"
business2 years ago

"Byron Allen's $14 Billion Bid Sends Paramount Global Board into Deliberation"

Paramount's board has formed an independent committee to consider strategic alternatives, including a possible sale, as media mogul Byron Allen submits a $14 billion bid to buy the company. Allen plans to sell the Paramount film studio and real estate while keeping the TV properties if he acquires the company. Other prospective bidders for Paramount's parent company, National Amusements, include Apollo Global Management and Skydance Media. The debt-laden entertainment giant is also planning to slash hundreds of jobs to trim costs.

via New York Post |
#bid#business#byron-allen
Macy's Real Estate Valued at $3 Billion More Than Investors' Bid, Analysts Say
business2 years ago

Macy's Real Estate Valued at $3 Billion More Than Investors' Bid, Analysts Say

Investors Arkhouse Management and Brigade Capital Management have submitted a $5.8 billion bid to acquire the shares of Macy's that they don't already own, but JPMorgan equity researchers estimate that Macy's real estate alone is worth nearly $3 billion more than the offer. Macy's owns about 320 of its 784 stores, including its flagship Herald Square building in New York City, which is valued at least $3 billion. The bid represents a step in the right direction for transactions in the retail sector, which has been impacted by depressed transaction volumes and uncertainty in clearing prices due to the pandemic.

via MarketWatch|
#bid#business#investors
Origin Energy's $10.6 bln bid from Brookfield set to collapse on Monday
business2 years ago

Origin Energy's $10.6 bln bid from Brookfield set to collapse on Monday

Brookfield's consortium bid of $10.6 billion for Australia's Origin Energy is expected to fail on Monday as investors are anticipated to vote against the acquisition. Origin's shares dropped to a nine-month low ahead of the vote, indicating investor expectations of the bid being rejected. AustralianSuper, the largest shareholder of Origin, has already stated its intention to reject the offer. The bid requires at least 75% support from the votes cast, and with AustralianSuper owning about 17% of Origin, it should be enough to block the acquisition. If the bid fails, the market is not expected to be significantly impacted, but there could be potential upside if the consortium returns with a hostile off-market offer.

via Reuters|
#australiansuper#bid#brookfield