Netflix’s CEO told the BBC that their proposal to buy Warner Bros is superior than Paramount’s because it would grow the company and the industry. Ted Sarandos, co-CEO of Netflix, told the Today show that the company’s offer was centred on “growth.” He said, “We’re buying a movie studio and a distribution company that we don’t have right now. We’ll be adding to the market.”
Warner Bros agreed to Netflix’s bid to buy part of its properties last December, but Paramount has made a competing offer. Warner Bros. told Paramount last week that they had until the end of Monday to make their “best and final” bid before the shareholders vote on the Netflix acquisition next month.
Netflix has given Warner Bros. $27.75 per share, or $82.7 billion (£61.2 billion), for its studio and streaming networks, which include brands including HBO Max, Warner Bros., and New Line Cinema. The rest of the corporation will be spun off as a separate entity. Paramount’s $30 a share, or $108.4 billion, proposal is for the whole company, including its traditional pay-TV networks, which are thought to be a dying business.
Sarandos added that Paramount was “still trying to mess up” Netflix’s arrangement with Warner Bros.He added Netflix’s offer was better than Paramount’s because it would let them “buy assets we don’t have right now.
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