Stanisland Magazine

Warner Bros. Discovery set to decide which offer they will accept

Netflix has seen a spanner in the works following a new contender in the world of streaming — Paramount Skydance, who have submitted a bid for Warner Bros. Discovery (WBD).

Paramount Hijack Bid

Initially, Warner Bros. Discovery accepted a bid from Netflix worth $27.75 per share excluding the rights to WBD’s television assets.

However, the latest contender in the battle for attention spans sees Paramount swoop in with a hostile bid of $30 per share. The offer includes the rights to intellectual property for both its television and cable titles, such as CNN.

The bid is an all cash offer sent directly to shareholders early this morning. Behind the potential deal are father and son partnership David and Larry Ellison, who believe their offer is better value for shareholders.

Paramount is the more seasoned production studio, with titles spanning more than a century.

Warner’s titles include award winning shows such as Curb Your Enthusiasm, Batman: The Animated Series, Lord of The Rings, Harry Potter, and more.

“Superior” Offer

In a press release, the studio said Netflix’s proffer provides WBD shareholders with “inferior and uncertain value” and that their submission is “$18 billion more in cash” than their rivals.

CEO and Chairman of Paramount David Ellison claimed: “Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion”.

The Ellison’s are close friends of Donald Trump, who said he “will be involved” in the decision claiming rhe acquisition by Netflix “could be a problem”.