Paramount agrees to acquire WBD, paying $31 per share in cash, giving WBD an enterprise value of $110B; Paramount paid a $2.8B breakup fee to Netflix
Netflix backed away from its $87.2 billion deal on Thursday. … The two companies formally unveiled the deal Friday after Netflix formally bowed …
The Hollywood Reporter Alex Weprin
Related Coverage
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- Sources: Sarandos' White House trip wasn't a “Hail Mary attempt to shore up a bid” and Netflix and WBD execs believe the deal would have won regulatory approval Financial Times
- WBD employees fear coming wave of job losses as Paramount tops Netflix's bid to acquire company CNBC
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- PARAMOUNT TO ACQUIRE WARNER BROS. DISCOVERY TO FORM NEXT-GENERATION GLOBAL MEDIA AND ENTERTAINMENT COMPANY Paramount Skydance Corporation
- Warner Bros. Discovery agrees to $110 billion Paramount merger The Verge · Emma Roth
- Warner Bros. Discovery Board Determines Paramount Skydance's $31 Per Share Offer Is ‘Superior Proposal’ to Netflix Bid The Wrap · Lucas Manfredi
- Warner Bros. Says Paramount's $31 Per Share Offer Tops Netflix Bloomberg · Christopher Palmeri
- Netflix Backs Out of Warner Bros. Bidding, Paramount Set to Win Hacker News
- Netflix Lost Warner. Maybe That's a Good Thing. New York Times · Nicole Sperling
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Discussion
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@agrobbonta
Rob Bonta
on x
Paramount/Warner Bros is not a done deal. These two Hollywood titans have not cleared regulatory scrutiny — the California Department of Justice has an open investigation, and we intend to be vigorous in our review.
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@markruffalo
Mark Ruffalo
on x
Please let's circle up all the State AG's and talk about how this is going to kill completion in the industry and drive down wages, and product quality for consumers. There are lots of agents in Hollywood who can tell you how past mergers and consolidations have hurt their clien…
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@pkafka
Peter Kafka
on x
Reminder: In December Paramount was going to use $24 billion from 3 gulf states to finance its WBD deal: $10b from Saudi, $7b each from Abu Dhabi and Qatar. I've asked Paramount if they are still using that money in this deal. No answer.
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@chrismurphyct
Chris Murphy
on x
Paramount should enjoy its growing news monopoly while they have it because when Democrats win back power we are going to break up these anti-democratic information conglomerates. All of them.
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@leehepner
Lee Hepner
on x
Enough with the defeatism. Stop saying Paramount won. Stop saying it now owns CNN. It's very weird to see so many people who have been covering this every day relent to inevitability. This deal will be challenged. Here's California AG Bonta throwing a big flag on the play:
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@sherman4949
Alex Sherman
on x
Spoke to a bunch of WBD employees. By and large, they wish Netflix had won. https://www.cnbc.com/...
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@brendancarrfcc
Brendan Carr
on x
@brianschatz Bruh
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@aaronparnas
Aaron Parnas
on x
🚨 Governor @GavinNewsom confirms that the deal between Warner Brothers and Paramount is not a done deal. “We believe a fair, independent process” when evaluating the merger. [video]
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@superwuster
Tim Wu
on x
Feel like the some of the reporting on Paramount-Warner Bros has kinda forgotten this little thing called federal and state antitrust review
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@sarafischer
Sara Fischer
on x
The deal will go thru DOJ & if it sues to block it, an indp court will rule on merits of the case. (State AGs can do same). If a future DOJ seeks to sue to unwind it, same process. Implying “Democrats” will “break up” these deals implies those indp processes would be politicized
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@senadamschiff
Adam Schiff
on x
What was true for Netflix is still true now for Paramount. The merger of two of Hollywood's biggest studios must be subject to the highest levels of scrutiny, free from White House political influence, to determine its impact on American jobs, freedom of speech, and the future o…
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@leehepner
Lee Hepner
on x
As we've been saying for months, the inevitability of a deal among shareholders is divorced from the regulatory risk. Ignoring the law creates a scenario where people feel they have to choose between evils. They do not. The Paramount-WB deal is illegal and should be blocked.
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@newsynick
Nick Turner
on x
This $2.8 billion termination fee is bigger than the combined global box office of Paramount's Terminator franchise https://www.bloomberg.com/... via @Lucas_Shaw @MichelleF_Davis
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@lucas_shaw
Lucas Shaw
on x
This Paramount/WBD deal is moving quickly. Paramount has sent Netflix $2.8 billion. Paramount and WBD are hustling to get an announcement out today.
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r/Fauxmoi
r
on reddit
Warner Bros. Discovery signs merger agreement with Paramount Skydance
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r/DC_Cinematic
r
on reddit
It's a Deal: Paramount and Warner Bros. Discovery Unveil $111 Billion Megamerger
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r/HBOMAX
r
on reddit
Warner Bros. Discovery signs merger agreement with Paramount Skydance
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r/hbo
r
on reddit
Warner Bros. Discovery signs merger agreement with Paramount Skydance
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r/SnyderCut
r
on reddit
It's a Deal: Paramount and Warner Bros. Discovery Unveil $111 Billion Megamerger
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r/boxoffice
r
on reddit
Even After Pull-Out, WarnerDiscovery's Board Believed Both Netflix & Skydance Deals Would Win Regulatory Approval. Netflix Insiders Say “As Sarandos Got To WH, Everything Was Done. …
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r/MediaMergers
r
on reddit
Even After Pull-Out, WarnerDiscovery's Board Believed Both Netflix & Skydance Deals Would Win Regulatory Approval. Netflix Insiders Say “As Sarandos Got To WH, Everything Was Done. …