Warner Bros. CEO David Zaslav’s real plan was to let Paramount, Netflix ‘duke it out’: sources
NY Post
Even as Warner Bros. Discovery CEO David Zaslav appeared bent on closing a mega deal with Netflix, his real plan was to reignite an Ali-Frazier-style bidding war for his company, On The Money has learned.
“I wanted to put these guys in the ring together and let them duke it out,” the mercurial media mogul told one person close to the matter. “And it’s good for shareholders.”
The “guys” he’s referring to are, of course, Netflix – which had appeared to win the monthslong bidding war for WBD’s studio and streamer – and Paramount Skydance, which has launched a hostile bid to upend the deal.
A person close to Zaslav tells On The Money that the CEO had long been setting the stage for Tuesday’s announcement that he is now offering Paramount Skydance, also known as PSKY, a chance to come in and negotiate with him with their “best and final offer.”
He did that by keeping the lines of communication open with PSKYs chief David Ellison and his mega billionaire father Larry Ellison, who is bankrolling the company’s bid.
That’s despite outward signs of hostility between both camps, with Zaslav barreling toward a shareholder vote to approve Netflix’s $27.75 a share offer for his studio and streaming service, a $73 billion deal his board approved over what PSKY put on the table.
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Even as Warner Bros. Discovery CEO David Zaslav appeared bent on closing a mega deal with Netflix, his real plan was to reignite an Ali-Frazier-style bidding war for his company, On The Money has learned.
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