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Paramount doubled down on its offer to purchase Warner Bros. Discovery for $30 per share, arguing Netflix's proposal for purchasing the company is "unmistakably inferior."
In a statement Thursday, Paramount argued it has addressed issues raised by Warner Bros. Discovery through the offer process and claimed Netflix's proposal "contains multiple uncertain components and has already decreased in total value" since it was first made in December. The company also cited plummeting shares in Versant as evidence of the low value of CNN and other cable channels owned by Warner Bros. Discovery.
"Our offer clearly provides WBD investors greater value and a more certain, expedited path to completion," Paramount CEO David Ellison said. "Throughout this process, we have worked hard for WBD shareholders and remain committed to engaging with them on the merits of our superior bid and advancing our ongoing regulatory review process."
