Summary
Paramount Skydance has extended its deadline to buy Warner Bros Discovery, competing against Netflix to take over the company. Paramount's offer is for $77.9 billion in cash, while Netflix's offer is $72 billion. Both deals seek control over Warner's assets, including popular franchises and the HBO Max streaming service.
Key Facts
- Paramount Skydance has extended its takeover bid deadline to February 20.
- The offer from Paramount is $77.9 billion, with each Warner share priced at $30.
- The enterprise value of Paramount's bid, including debt, is over $108 billion.
- Netflix's competing offer is valued at $72 billion, switched to an all-cash deal.
- Both companies' bids would involve taking control of Warner's entertainment assets.
- Paramount's offer includes the entire company, potentially combining news and cable operations.
- Netflix's bid focuses on Warner's studio and streaming businesses.
- Regulatory approval is needed, and both Ellisons' relationship with President Trump and Netflix progress could influence outcomes.
- Shareholder approval processes and antitrust scrutiny are ongoing concerns in the sale.
