Netflix isn’t the only company in the hunt to buy Warner Brothers Discovery. Paramount Skydance has thrown their hat into the ring…again.
The hostile bid, sees Paramount Skydance offering shareholders $30 per share to buy the entire company.
The billionaire Ellison family are close to United States President Donald Trump. David and Larry Ellison are Republicans and what as described as “megadonors”. Trump has also stated that he will personally oversee any deal that is made for Warner Brothers Discovery.
Trump himself has said Netflix has a “big market share” and the combination of the two media giants “could be a problem”. Before any deal can go through the US Justice Department’s competition division would have to weigh in.
Warner Bros and Netflix announced a purchase agreement valued at $72 billion last week. At the time, Netflix outbid Paramount Skydance who was also interested in purchasing the company.
Warner Brothers Discovery is not only home to DC Comics and the DCU franchise of movies but also Game of Thrones, Harry Potter but also the cable station TBS which airs AEW programming. AEW is also streamed on HBO Max. Three years ago, Warner Brothers and Discovery Communications came together in a $43 billion deal. Netflix has said it will continue to launch Warner Bros. movies in theaters and the television studio will continue its productions as well.
WWE and Netflix signed a 10-year, $5 billion deal that saw all of their programming and events move to Netflix in international markets and Raw in America.
When Netflix’s co-chief executive Greg Peters was asked about whether HBO Max would be folded into Netflix somehow he said: “We think it’s quite early to get into the specifics of how we’re going to tailor this offering for consumers.”
Warner Bros. Discovery released a statement saying: “Warner Bros. Discovery has confirmed Paramount Skydance Corporation has commenced an unsolicited offer to acquire all of the outstanding shares of Warner Bros. Discovery common stock. The Warner Bros. Discovery Board of Directors will carefully review and consider Paramount Skydance’s offer in accordance with the terms of Warner Bros. Discovery’s agreement with Netflix. The Board is not modifying its recommendation with respect to the agreement with Netflix. Warner Bros. Discovery intends to advise its stockholders of the Board’s recommendation regarding Paramount Skydance’s tender offer within 10 business days. Warner Bros. Discovery stockholders are advised not to take any action at this time with respect to Paramount Skydance’s proposal.”
