Takeover fight Warner Bros. Discoverythe owner of, among others, TVN, has been going on for many months. Commitment to the process even Donald Trump signaledbut the US president ultimately gave up on this idea. Paramount is not giving up on this, even though Netflix is on the final stretch for a major takeover. The media giant — led by David Ellison, son of billionaire Larry Ellison — has made another offer.
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Paramount Skydance unveiled a package of proposals Tuesday intended to convince Warner Bros. shareholders. Discovery (WBD) to select its takeover bid, Bloomberg reported.
Paramount declared that it would cover the $2.8 billion that WBD would have to pay to Netflix as compensation for breaking the current contract. Additionally, the company agreed to pay USD 1.5 billion. costs related to the refinancing of Warner Bros. debt.
Additionally, as part of the latest offering, Paramount wants to pay Warner Bros. shareholders. Discovery approximately USD 650 million. for each quarter in which a deal with Netflix is not finalized, starting in 2027, writes CNN.
See also: Donald Trump smells a deal? He invested at least a million dollars
Warner Bros. Discovery
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Netflix vs. Paramount. Who will take over the ownership of TVN?
In early December last year, WBD agreed to sell a large part of its business, including its film studios and streaming platforms, to Netflix. The transaction was valued at USD 83 billion.
Then, Paramount Skydance presented an offer to take over the entire company for USD 108 billion, including television channels such as CNN and Polish TVN. (if taken over by Netflix, these channels would go to a separate company – Discovery Global).
See also: He forgot to return the VHS tape. This is how Netflix was born
Billionaire Larry Ellison, whose son David Ellison is the head of Paramount Skydance, declared personal financial guarantees of $40.4 billion. for the purpose of taking over the concern.
On January 20, Warner Bros Discovery announced that The company's management unanimously accepted Netflix's offer. Still, as you can see, Paramount hasn't said the last word yet.
Ellison said in a statement that the new “enhancements” are intended to provide WBD shareholders with “value certainty, a clear regulatory path and protection from market volatility.”
Source: Bloomberg, CNN
