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Chronicles

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Paramount launches a hostile bid to acquire WBD, offering WBD shareholders $30/share in a $108.4B all-cash deal; sources say WBD rejected the same bid last week

Paramount Skydance is launching a hostile bid to buy Warner Bros. Discovery after it lost out to Netflix in a months-long bidding war …

CNBC

Discussion

  • @joecarlsonshow Joseph Carlson on x
    So if paramount wins, Larry Ellison and his son will control TikTok, Warner bros studios, Paramount Pictures studio, CBS, CNN all of HBO and Paramount plus streaming library. They would also control almost every major cable channel. They would have distribution that is possibly
  • @joecarlsonshow Joseph Carlson on x
    I was more confident that Netflix could buy Warner before it surfaced that Jared Kushner was an investor in the Paramount deal. I don't know how to read that any other way than it's bearish for Netflix's chances.
  • @florian4gamers Florian Mueller on x
    This is about the only big thing that can happen in a merger context that did not happen with respect to ABK: a hostile alternative bid. https://xboxera.com/...
  • @sarafischer Sara Fischer on x
    This deal, BTW, still needs to get traditional regulatory approval too. Trump can try to influence his DOJ not to sue to block it, but an indp judge would get the final say.
  • @pkafka Peter Kafka on x
    Yikes previous Paramount bid for WBD involved financing from China's Tencent. [image]
  • @pkafka Peter Kafka on x
    You may recall that last year Congress passed a bill prohibiting a Chinese company from owning a giant media platform.
  • @rogerwcheng Roger Cheng on x
    Paramount is mounting a hostile bid for WBD, using the same $30 offer it submitted. A lot will depend on shareholder belief in the potential value of the cable biz and how much easier #PSKY can get through the regulatory process. https://www.thewrap.com/...
  • @sherman4949 Alex Sherman on x
    The Middle Eastern money is one thing, but it's perhaps even more interesting that the other funding source listed here is Jared Kushner!
  • @sarafischer Sara Fischer on x
    CONTEXT...CFIUS operates under Treasury & is mostly Cabinet members, but POTUS has power to ultimately decide whether a deal should be blocked —Lawyers I've spoken to say they haven't seen CFIUS politicized so far but not an impossibility —Subscribe: https://www.axios.com/...
  • @pkafka Peter Kafka on x
    Paramount *is* using money from Saudi, Qatar, Abu Dhabi (and Jared Kushner, which...) in its WBD bid. Says it's not a problem. [image]
  • @alaynatreene Alayna Treene on x
    Meanwhile, Trump is taking aim at Paramount this morning, criticizing Paramount-owned CBS 60 Minutes for its interview with Marjorie Taylor Greene [image]
  • @sarafischer Sara Fischer on x
    🚨🚨 WOW. Paramount's initial press statement didn't include a mention of sov wealth funds, but sep SEC filing said other outside financing partners include funds from Saudis, Qataris, Emirates as well as Jared Kushner's Affinity Partners (!) Those funders, “have agreed to forgo
  • @danprimack Dan Primack on x
    Jared Kushner is part of the Paramount bid for WBD
  • @sherman4949 Alex Sherman on x
    So.... Paramount CEO David Ellison says he texted WBD CEO David Zaslav that the $30-per share offer was **not** best and final. So, why should shareholders take a $30 per share offer now? Ellison is basically saying his company is willing to bid more, no?
  • @sarafischer Sara Fischer on x
    #BREAKING: @Paramount launches hostile takeover bid for @wbd — Says bid is backstopped by The Ellison family and RedBird Capital in addition to $54B in debt “fully committed” by Bank of America, Citi and Apollo — It did not mention any cash from sovereign wealth funds — We
  • @pkafka Peter Kafka on x
    Of potential importance: Paramount seems to be saying that Saudi/Qatar/Abu Dhabi is *not* financing this deal, which is not something they would say last week. https://www.businessinsider.com/ ... [image]
  • @sherman4949 Alex Sherman on x
    approval process. We are taking our offer directly to shareholders to give them the opportunity to act in their own best interests and maximize the value of their shares."
  • @sherman4949 Alex Sherman on x
    Paramount Skydance CEO David Ellison will be live on @CNBC in about 10 minutes.
  • @sherman4949 Alex Sherman on x
    David Ellison pouring cold water on the argument that the world of entertainment includes TikTok, Instagram, etc. “That's like saying Coke can buy Pepsi because Budweiser is also a beverage.”
  • @sherman4949 Alex Sherman on x
    Paramount CEO David Ellison tells David Faber that Discovery Global should be valued a $1/share.
  • @zerohedge @zerohedge on x
    *PARAMOUNT SAYS OFFER PROVIDES $18B MORE IN CASH THAN NETFLIX *PARAMOUNT: DEAL WILL BE FINANCED BY NEW EQUITY *PARAMOUNT: DEAL WILL BE FINANCED WITH $54B OF DEBT COMMITMENTS
  • @brianstelter Brian Stelter on x
    This just in: Paramount is mounting a hostile takeover bid for all of Warner Bros. Discovery, including CNN, saying “WBD shareholders deserve an opportunity to consider our superior all-cash offer...”
  • @conorsen Conor Sen on x
    So we're going to get a drawn-out fight between Netflix, Zaslav, the Ellisons, and Trump. Should be great for content.
  • @sherman4949 Alex Sherman on x
    From David Ellison in the statement: “We believe the WBD Board of Directors is pursuing an inferior proposal which exposes shareholders to a mix of cash and stock, an uncertain future trading value of the Global Networks linear cable business and a challenging regulatory
  • @karlbode.com Karl Bode on bluesky
    this pretty much guarantees months and months of performative bullshit by Trump and Ellison and right wing media about how Netflix ownership would be a woke antitrust nightmare, but letting Larry and his nepobaby son dominate U.S. media would be a delightful, populist spritzer
  • @bgrueskin Bill Grueskin on bluesky
    And right on cue, Paramount is touting its “friendly relationship with the Trump administration” as a reason for why shareholders should back its bid for Warner.  —  www.cnbc.com/2025/12/08/p...  [image]
  • @markjacob Mark Jacob on bluesky
    Is Trump going to hand over CNN to his pals, the Ellisons?
  • @figgityfigs @figgityfigs on bluesky
    lol at the idea of the Trump administration having antitrust concerns about merging Netflix and HBO Max and not at merging all of Paramount and all of WB Discovery.  Gimme a fuckin break.
  • @annmlipton Ann M. Lipton on bluesky
    This is just how we do mergers now.  —  “Paramount executives also plan to argue their deal will have a much shorter regulatory approval process given the company's smaller size and friendly relationship with the Trump administration.”  —  www.cnbc.com/2025/12/08/p...
  • @woodenstares @woodenstares on bluesky
    Ellison is not giving up.  [embedded post]
  • r/technology r on reddit
    Jared Kushner is part of Paramount's hostile bid for Warner Bros Discovery
  • r/politics r on reddit
    Jared Kushner is part of Paramount's hostile bid for Warner Bros. Discovery
  • r/StockMarket r on reddit
    Jared Kushner is part of Paramount's hostile bid for Warner Bros. Discovery
  • r/midcarder r on reddit
    It's a Bidding War: Paramount Attempts Hostile Offer for Warner Bros.
  • r/SnyderCut r on reddit
    It's a Bidding War: Paramount Attempts Hostile Offer for Warner Bros.
  • r/DCULeaks r on reddit
    Paramount Launches $108.4bn Hostile Bid for Warner Bros.
  • r/oscarrace r on reddit
    Paramount Launches Hostile Bid for Warner Bros.
  • r/blankies r on reddit
    Ellisons' Paramount Launches Hostile Takeover Bid for Warner Bros. Discovery Despite Netflix Inking Deal
  • r/Economics r on reddit
    Paramount Skydance launches hostile bid for WBD after Netflix wins bidding war
  • r/boxoffice r on reddit
    Paramount Launches Hostile Bid for Warner Bros.
  • r/movies r on reddit
    Paramount Launches Hostile Bid for Warner Bros.
  • @thrillarilla369 @thrillarilla369 on x
    Netflix had enough cash to buy Warner Bros., but cried poor when we shared passwords with our mom.
  • @stratechery @stratechery on x
    Netflix and the Hollywood End Game Netflix is driving the Hollywood end game, likely confident it can increase the value of IP, and fend off YouTube. https://stratechery.com/...
  • @buccocapital @buccocapital on x
    The best argument for allowing Netflix to buy WBD is that YouTube is a runaway train [image]
  • @matthewstoller Matt Stoller on x
    The monopoly round-up is out. Netflix has raised prices by 125% since 2014. What does that show about its intent with Warner? https://www.thebignewsletter.com/ ...
  • @davidehrlich David Ehrlich on x
    in the hyper-proprietary future Netflix is hoping to create, the ability to watch movies - to watch *any* movie - would practically cease to exist for most people on earth if a server farm caught fire or an underwater fiber-optic data cable was severed. I feel like that's bad.
  • @chesterj1 Jeffrey Chester on x
    We need major overhaul of digital media marketplace & Netflix WBD deal key time to articulate vision, get support. Even with Warner still standing, the global biz has changed & we should be offering options delivering diversity, autonomy, competition. https://prospect.org/...
  • @nick_field90 Nick Field on x
    Ted Sarandos was a frequent Democratic donor, but didn't give any money at all in 2024. Just like Bob Iger. These are the people Kamala Harris thought were her friends who abandoned her even before the election https://x.com/...
  • @senwarren Elizabeth Warren on x
    Donald Trump said he'll “be involved in” deciding if Netflix can buy Warner Bros. Is that an open invite for CEOs to curry favor with Trump in exchange for merger approvals? It should be an independent decision by the Department of Justice based on the law and facts.
  • @ronfilipkowski Ron Filipkowski on x
    I don't care if the deal isn't approved on antitrust grounds. Media company consolidation is a crime inflicted on America just like Citizen's United. But if it is done to steer this deal to his pal Ellison to create an even worse situation, that would be yet another travesty.
  • @nick_field90 Nick Field on x
    Translation: Netflix will need to pay a follow-up bribe as well https://x.com/...
  • @ernestwongbwm Ernest Wong on x
    I believe Netflix's proposed deal for Warner is wildly misunderstood by nearly all parties. Netflix's play is NOT to acquire Warner to add HBO content into Netflix, but use its reach to make HBO Max reach its full potential a standalone service. 🧵 $NFLX
  • @atrupar Aaron Rupar on x
    Q: Should Netflix be allowed to buy Warner Brothers? TRUMP: That's a question. They have a very big market share. I'll be involved in that decision [video]
  • @brianstelter Brian Stelter on x
    Important to always note: Trump can slow down Netflix-Warners, and can make the process more painful, but he does not get a literal veto. In 2017 the Justice Dept sued to stop AT&T's mega-deal for Time Warner. The companies fought back in court, won, and merged.
  • @rapidresponse47 @rapidresponse47 on x
    .@POTUS on the Netflix deal to acquire Warner Bros.: “That's gotta go through a process, and we'll see what happens. Netflix is a great company... but it's a lot of market share, so we'll have to see what happens.” [video]
  • @mrgq @mrgq on bluesky
    Same as if Skydance / Paramount would have acquired it as it was their expectation.
  • @fagankara @fagankara on bluesky
    1. Golden share  —  2. Extreme maga content
  • @hunterwalk.com @hunterwalk.com on bluesky
    not since the Steele Dossier pee tape has Trump cared about streaming this much [embedded post]
  • @rphilly Robin Phillips on bluesky
    He doesn't even know what that means!  He's a buffoon!
  • @caseynewton Casey Newton on bluesky
    This “process” is going to end with Trump being awarded the 2025 Netflix Peace Prize [embedded post]
  • @tracinski Rob Tracinski on bluesky
    “I'll be involved” is another big broken norm.  [embedded post]
  • @kevin@mastodon.km6g.us Kevin P. Fleming on mastodon
    @Techmeme B.S. This admin will cater to billionaires over everything else.