Paramount Skydance launched a hostile takeover bid for Warner Bros. Discovery at $30 a share in cash on Monday, just days after the company agreed to a deal with Netflix. The offer values Warner Bros. at $108.4 billion, including debt.
The bid compares with Netflix¡¯s offer of $27.75 in cash and stock, for an enterprise value of about $82.7 billion including debt. Paramount¡¯s offer is for all of Warner Bros., while Netflix is interested only in the Hollywood studios, HBO and the streaming business.
Paramount CEO David Ellison has touted his family¡¯s good relations with U.S. President Donald Trump. The president¡¯s son-in-law, Jared Kushner, is participating in the Paramount bid through his Affinity Partners, according to financing terms unveiled Monday. Trump, who indicated that he will be involved in approval of a Warner Bros. sale, said he hasn¡¯t discussed the topic with Kushner.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.