Skydance Paramount on Monday launched Hostile, a $108.4 billion bid to buy Warner Bros. Discovery (WBD), the day after Warner agreed acquired by Netflix $82.7 billion.
Paramount is going directly to shareholders With an all-cash offer of $30 per share, and noted that it offers shareholders more than $18 billion more than the Netflix deal, which offered $27.75 per share.
Paramount is bidding for all of WBD, while netflix’s deal with the company only includes the Hollywood business and the streaming business.
CNBC reported On Monday, it was a very serious term from Paramount that the WBD Board rejected a week ago.
“We believe the WBD board of directors is pursuing a lower-cost proposal that exposes shareholders to a mix of cash and stock statementSee rank-.
Paramount’s offering was repaid with Equity financing from the Ellison family and Redbird Private capital, in addition to $54 billion in debt from American banks, Citi, and Apollo.
Netflix came out on top on Friday after winning a bidding war against Paramount and Comcast, but a hostile bid that could paint Hollywood’s best studio, a battle that has been building for months.
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Netflix’s proposed deal has drawn antitrust questions, as it would combine two of the most popular streaming platforms into one. In addition, President Donald Trump has said The deal “could be problematic” because of the size of the stock company.
The deal between WBD and Paramount will also address the same issue.
Netflix agreed to pay WBD $5.8 billion if the deal goes through. WBD will have to pay Netflix $2.8 billion if the deal falls through.
Netflix did not immediately respond to a request for comment.