Paramount sticks with $30-per-share bid
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The Warner Bros. Discovery board has unanimously voted to rebuff Paramount’s $108.4 billion offer and urged shareholders to reject the hostile takeover bid. The board is continuing to support Netflix’s pending $82.7 billion purchase of its streaming and movie studios businesses along with a separate spinoff of the Warner Bros. cable TV division.
Hollywood had one of the biggest shakeups in its history on Friday, when Netflix announced it would purchase Warner Bros. Discovery for a whopping $82.7 billion. The announcement is simply the first step of what will ultimately be a long process to gain ...
Agence France-Presse on MSN
Warner Bros rejects updated Paramount takeover bid, backs Netflix deal
The board of entertainment and news giant Warner Bros. Three days later, Paramount launched an all-cash tender offer valuing the entertainment giant at $108.4 billion.