WBD shareholders must weigh pros and cons of tendering their shares to Paramount for $30 per share. CNBC lays out the arguments on both sides.
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Hours before Warner Bros. Discovery
agreed to sell its studio and streaming assets to Netflix
, Ted Sarandos, the co-CEO of Netflix, called WBD CEO David Zaslav to inform him Netflix wouldn’t be bidding any higher.
WBD shareholders now have a chance to call Sarandos’ bluff.
Paramount launched a hostile bid for WBD, taking a $30-per-share, all-cash offer directly to shareholders.
Warner Bros. Discovery's board still sees its deal with Netflix as the superior option over Paramount's recently amended hostile…
WBD had agreed to sell to Netflix but Paramount swiftly countered with an all-cash offer, which WBD’s board is calling…
WBD employees fear potential job cuts, culture clashes and high debt loads as Paramount supplants Netflix as the company's…
With Netflix out of the picture, a Paramount and Warner Bros. Discovery deal may have fewer obstacles to regulatory approval.
If WBD deems the new Paramount offer superior, Netflix will have four days to improve its previously agreed-upon bid.
