Warner Bros. Discovery leans toward rejecting Paramount’s offer and sticking with Netflix
The company is concerned about certain financial aspects, according to sources.
The battle is raging in Hollywood. Media conglomerates are making their moves to gain control of one of the crown jewels, Warner Bros. Discovery. Netflix was the first to announce an agreement to acquire the company, but Paramount Skydance did not give up and launched a hostile takeover bid, which does not seem to have convinced the studio. According to Bloomberg, Warner Bros. plans to reject the offer and stick with Netflix’s.
The main reason Warner Bros. Discovery is inclined to decline Paramount’s offer has to do with financial concerns. Therefore, they will recommend that shareholders not accept this proposal. Paramount’s offer will expire on January 8, so the conglomerate can wait until that date to decide whether to improve it or withdraw it.
Donald Trump’s son-in-law’s company is no longer involved
Affinity Partners, the company owned by Jared Kushner, son-in-law of US President Donald Trump, has announced that it is no longer part of the operation: “The dynamics of the investment have changed significantly since we became involved in October.” However, it continues to see strategic potential in the move.
Netflix has offered $83 billion for Warner Bros. Discovery. Meanwhile, Paramount Skydance has raised that sum to $108 billion. In any case, the battle is far from over: the deal will be investigated by regulatory bodies, and Paramount may well make further moves to try to improve its offer and convince shareholders.
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