WBD once again rejects Paramount offer in favor of Netflix deal

News Brief: English

Summary

Warner Bros. Discovery’s board has again rejected a hostile takeover bid from Paramount Skydance, reaffirming its commitment to a $72 billion deal with Netflix for its streaming and studio assets. Despite Paramount securing backing from billionaire Larry Ellison, it has not increased its $30-per-share offer, leading the WBD board to deem it inferior.

Key Points

  • Board Rejection: The WBD board unanimously recommended shareholders reject Paramount Skydance’s latest offer, calling it “inferior” to the Netflix deal.
  • Netflix Deal: WBD has a signed $72 billion agreement to sell its studio and streaming business to Netflix, which the board sees as having a clearer path to completion.
  • Paramount’s Bid: Paramount’s hostile offer is $30 per share in cash for the entire company, including TV networks. It secured backing from Larry Ellison but did not raise the bid amount.
  • Shareholder Dissent: Pentwater Capital, WBD’s seventh-largest shareholder, criticized the board for not engaging with Paramount’s revised bid, calling it a “lost opportunity.”
  • Regulatory Status: Netflix stated it is engaging with antitrust regulators (DOJ, EC) regarding its proposed merger with WBD.

新闻简报:中文

摘要

华纳兄弟探索公司董事会再次拒绝了派拉蒙天空之舞的敌意收购要约,重申了对与Netflix达成的720亿美元出售其流媒体和影视资产交易的承诺。尽管派拉蒙获得了亿万富翁拉里·埃里森的支持,但并未提高其每股30美元的出价,导致WBD董事会认为该要约劣于Netflix的交易。

关键点

  • 董事会拒绝: WBD董事会一致建议股东拒绝派拉蒙天空之舞的最新要约,称其与Netflix的交易相比是”劣等的”。
  • Netflix交易: WBD已签署一份价值720亿美元的协议,将其影视和流媒体业务出售给Netflix,董事会认为该交易完成路径更清晰。
  • 派拉蒙的要约: 派拉蒙的敌意收购要约是以每股30美元现金收购整个公司,包括电视网络。它获得了拉里·埃里森的支持,但未提高出价金额。
  • 股东异议: WBD第七大股东Pentwater资本批评董事会未与派拉蒙修订后的要约进行接触,称这是一个”错失的机会”。
  • 监管状态: Netflix表示,正就其与WBD的拟议合并与美国司法部和欧盟委员会等反垄断监管机构进行接触。

Original Article Link: https://www.cnbc.com/2026/01/07/wbd-rejects-paramount-offer-again-netflix-deal.html

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