Warner Bros. Discovery restarts takeover talks with Paramount Skydance
CBSN
Warner Bros. Discovery said on Tuesday that it will resume acquisition talks with Paramount Skydance after Netflix, which last year agreed to buy the entertainment company, gave Warner seven days to explore a new offer. Edited by Jamie Reysen In:
Warner Bros. Discovery said on Tuesday that it will resume acquisition talks with Paramount Skydance after Netflix, which last year agreed to buy the entertainment company, gave Warner seven days to explore a new offer.
Warner Bros. Discovery said in a news release that it would engage with Paramount Skydance (the parent company of CBS News) to discuss the company's $30 per share bid and clarify terms of the deal.
Warner Bros. Discovery also said that a "senior representative" for Paramount Skydance had informed a member of Warner's board of directors that it would raise its bid to $31 per share and potentially discuss further enhancing its offer.
Paramount Skydance has said its bid for Warner Bros. Discovery is financially superior to Netflix's $27.75 per share offer and that it is more likely to receive approval from federal antitrust regulators.
Under the Netflix deal, the streaming giant would acquire Warner Bros. Discovery's movie studio, whose films include the "Harry Potter" franchise, "The Matrix" and "Casablanca," and its streaming assets. Paramount has proposed buying all of Warner Bros. Discovery, including its CNN, TBS, TNT and other cable TV properties.
