All articles tagged with #paramount skydance
Paramount Skydance’s $31-per-share bid to acquire Warner Bros. Discovery topped Netflix’s $27.75 offer, prompting Netflix to walk away and secure a $2.8 billion breakup fee. The deal, backed by Larry Ellison, hinges on regulatory approval and Paramount’s ability to de-leverage a massive debt load, signaling a dramatic reordering of Hollywood’s studios and streaming landscape.
Paramount Skydance agreed to acquire Warner Bros. Discovery in a deal valued at about $110 billion including debt, valuing WBD around $77 billion in equity at $31 a share and bringing together WBD’s film studio, HBO Max and CNN with Paramount Skydance’s library; Netflix had bid earlier but pulled out and will receive a $2.8 billion termination fee. The deal requires regulatory clearances and WBD shareholder approval, with a Sept. 30 ticking fee if not closed and a target closing in early spring 2026, while integration details remain unclear.
Netflix declined to match Paramount Skydance’s $31-per-share all-cash offer for Warner Bros. Discovery, effectively paving the way for a roughly $110 billion deal and signaling continued antitrust scrutiny, after Netflix previously offered to buy part of WBD for about $82.7 billion.
With Netflix withdrawing its $83 billion bid for Warner Bros. Discovery, Paramount Skydance appears positioned to win, triggering anxiety at CBS News and CNN over potential job cuts and ideological shifts under new ownership, including talk of Bari Weiss taking a significant CNN role. Regulators from the DOJ and state attorneys general will review the merger, which would also expand Paramount’s reach to HBO and other properties.
California Attorney General Rob Bonta said the state’s Department of Justice has opened an antitrust investigation into Paramount’s Warner Bros. Discovery merger and that the deal has not cleared regulatory scrutiny, even as Netflix walked away from its bid and Paramount Skydance’s $31-per-share offer for Warner Bros. Discovery progressed. Bonta warned that further consolidation could harm California’s economy, consumers, and competition.
Netflix exited the Warner Bros. Discovery bidding, allowing Paramount Skydance to win with a $31-per-share offer (roughly $80 billion equity plus about $30 billion in debt) and collect a $2.8 billion breakup fee for Netflix; the move was hailed by investors as disciplined and shareholder-friendly, sending NFLX shares higher even as Paramount faces significant leverage and cost-cutting pressure after the deal.
California Attorney General Rob Bonta said his office will conduct a vigorous review of Paramount Skydance’s planned acquisition of Warner Bros. Discovery, warning the deal isn’t a done deal and that the California Department of Justice has an open investigation. The note comes as the bid saga swirls with shifting offers and Netflix exiting the bidding, underscoring heightened regulatory scrutiny of entertainment industry consolidation.
Paramount Skydance’s roughly $31-a-share cash bid wins the Warner Bros. Discovery deal, valuing WBD at about $80 billion plus around $30 billion of debt, prompting Netflix to walk away and collect a $2.8 billion breakup fee; Netflix stock jumped about 10% after hours on the disciplined decision, while Paramount faces substantial debt (~7x EBITDA) and potential cost cuts after closing.
Netflix CEO Ted Sarandos met with White House staff to discuss Netflix’s effort to buy part of Warner Bros. Discovery, but after the visit Warner Bros. Discovery said Paramount Skydance’s bid to buy all of the company was a superior proposal, and Netflix ultimately pulled out of the deal, saying the terms were no longer financially attractive.
Netflix declined to raise its offer for Warner Bros Discovery after Paramount Skydance’s bid was deemed superior, clearing the way for Paramount to potentially acquire Warner Bros. If regulators approve, Paramount would fold HBO Max into its portfolio and gain assets like CNN, reshaping Hollywood; Netflix framed the deal as valuable but not worth matching the higher price.
MAGA-aligned billionaires Larry Ellison and his son David, via Paramount Skydance, have topped Netflix in a bidding war to acquire Warner Bros. Discovery, taking control of CNN and HBO with a $31-per-share offer and signaling a MAGA-friendly leadership shift, including reports that Bari Weiss could helm CNN; Netflix declined to match, clearing the path for Paramount Skydance to own CNN and its subsidiaries.
Netflix has pulled out of its $83 billion bid to acquire Warner Bros. Discovery after Paramount Skydance submitted a higher offer, paving the way for David Ellison’s bid to take the deal forward. Warner Bros. Discovery labeled Ellison’s offer superior, while Netflix said the transaction was no longer financially attractive. Regulators in the U.S. and Europe will scrutinize any sale, and Netflix could potentially re-enter if Paramount is blocked, though the outcome currently favors Ellison’s consolidation of HBO, CNN, and the Warner film studio under Paramount Skydance.
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.
Netflix withdraws from the Warner Bros. bidding war, saying the deal isn’t financially attractive at Paramount Skydance’s higher offer; Warner Bros. Discovery’s board is expected to adopt Paramount’s superior proposal (around $31 per share with incentives), making Paramount the likely winner and triggering Paramount’s payment of Warner Bros.’ $2.8 billion termination fee to Netflix. Netflix says it will continue investing about $20 billion in content and resume share buybacks, and its stock rose after hours.
Netflix says it will not increase its bid for Warner Bros. Discovery, effectively ceding the fight to Paramount Skydance, which has raised its offer to about $77 billion (roughly $31 a share) for the entire company and includes a $7 billion reverse termination fee. Netflix had been pursuing WBD’s film studio, HBO, and HBO Max, while Warner Bros. Discovery’s board has deemed Paramount’s offer superior and a timely closing more certain. The deal still requires regulatory approval and a March 20 shareholder vote at WBD.