As the newspaper noted, Paramount Skydance and its boss David Ellison will in this situation decide whether to present a better offer to shareholders.
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WBD shares remain at around $30, which suggests that investors expect Paramount to increase its offer, the daily emphasized. Paramount's offer expires on January 8, so the company may wait until then to decide whether to make a better offer.
Fight to take over the owner of TVN
On December 8, Paramount announced an attempted hostile takeover of Warner Bros. Discovery, offering the company's shareholders $30. per share. The company announced in a statement that it had decided to publicly submit an offer to WBD shareholders, bypassing the management board, because – despite presenting six proposals to acquire WBD – its management “never engaged in a significant way” in the negotiations.
Paramount's offer is $2.25. per share higher than Netlfix's offer, but – unlike it – it provides for the purchase of the entire company, together with television channels, including CNN, TNT and the Polish TVN.
Netflix's offer, accepted a few days earlier by WBD, offered WBD shareholders $23.25. in cash for each share and USD 4.5 in Netflix stock, while Paramount Skydance is offering the entire amount in cash.
