Sign In
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
By signing in or creating an account, you agree with Associated Broadcasting Company's Terms & Conditions and Privacy Policy.
Paramount Skydance has launched a hostile takeover bid for Warner Bros Discovery valued at $108.4 billion, intensifying the battle for Hollywood dominance against Netflix. This significant move by the American mass media and entertainment conglomerate, led by David Ellison, aims to outbid Netflixs previous $72 billion equity offer.
Paramount's proposal includes an all-cash offer of $30 per share for Warner Bros Discovery, providing shareholders with an additional $18 billion in cash and a potentially smoother path to regulatory approval.
If successful, the deal would merge Paramount+ with HBO Max, forming a powerful competitor to existing streaming giants like Netflix, Disney+, and Amazon Prime Video. However, both bids have attracted scrutiny, with concerns raised about job cuts and consumer prices.
US President Donald Trump stated he is closely monitoring the takeover battle, highlighting its market sensitivity and potential impact on competition in the US media industry.
