Warner Bros. rejects Paramount bid
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Warner Bors. Discovery put itself up for sale in October this year, with Apple being a potential buyer. However, it seems like Netflix is eyeing the deal.
Netflix has announced that it will acquire Warner Bros. in a massive $82.7 billion dollar deal, and will own Warner Bros.' film and TV studios plus HBO and HBO Max.
Warner Bros. Discovery rejected the $30/share takeover bid from David Ellison's Paramount Skydance, with WBD unanimously backing the deal with Netflix.
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Netflix co-CEO Ted Sarandos said theatrical runs will “evolve” to be more consumer friendly while criticizing lengthy theater exclusivity windows.
Warner Bros. Discovery has rejected a purchase offer from Paramount, saying Netflix’s bid is still the better option. Paramount made a hostile, all-cash approach for the entire Warner Bros. business of $77.