In an attempt to thwart Netflix’s competing proposal to purchase Warner Bros. Discovery’s studio and streaming networks, Paramount Skydance has made another offer to acquire the company.
To acquire all of Warner Bros., including its traditional television networks, Paramount, backed by the wealthy Ellison family, announced it was making a direct $30-per-share offer to Warner Bros.’ stockholders.
It said that its plan was a “superior alternative” to Netflix’s, offering shareholders more money up front and a higher chance of regulatory approval. Given the magnitude of the firms, President Donald Trump has stated that “there could be a problem” with Netflix’s acquisition, citing concerns about competition.
The next development in a story that began a few months ago when Paramount began making approaches to purchase Warner Bros. is the hostile bid from Paramount, a smaller company than Netflix, which is well-known for brands like CBS News, Nickelodeon, and Mission Impossible.
Many on Wall Street viewed Paramount as a serious contender for Warner Bros., partly because of the expectation that Trump’s relationship with Republican megadonor Larry Ellison would facilitate approval.
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