Two-time Oscar nominated filmmaker Lee Isaac Chung has departed the upcoming Ocean’s Eleven prequel, Deadline is reporting. The action comedy remains in active development at Warner Bros. Pictures and LuckyChap Entertainment. Chung had been working on the project as the director alongside its star and producer Margot Robbie. But the parties have now gone their…
Warner Bros Discovery has agreed to a $110 billion acquisition by Paramount Skydance. The two entertainment companies signed the deal this morning. News of the agreement emerged from an audio recording of a company-wide town hall reviewed by Reuters. The agreement caps a dramatic bidding war that reshapes the Hollywood landscape. It creates one of the…
Paramount Skydance has sweetened its takeover offer to the Warner Bros. Discovery Board by proposing $31 a share in cash plus a daily ticking fee of $0.25 per share for every quarter beyond October 1 that a deal is not consummated. Also included in the offer is a $7 billion regulatory termination fee that Paramount…
©Courtesy of Paramount Skydance Paramount Skydance has announced its intention to sue Warner Bros. Discovery as part of its takeover strategy. According to Variety, the suit, filed on Monday in Delaware Chancery Court, is designed to force WBD to disclose details of its $83 billion deal with Netflix. Meanwhile, Warner’s board just rejected Paramount’s latest…
©Courtesy of Netflix As the Warner Bros./Netflix deal heads toward closure, industry observers are wondering about the impact the new arrangements may have on movie houses. Some insiders are saying that Netflix’s insistence on a “17-day window” might be disruptive to traditional channels of theatrical distribution. Exhibitors are putting pressure on the streamer to prioritize…
©Courtesy of Paramount Pictures Warner Bros. Discovery announced on Wednesday morning that it is giving a thumbs-down to Paramount’s hostile takeover bid, arguing that Netflix would be a better suitor. Paramount is offering $30 per share for the entire company, while Netflix is making a $27.75-per-share offer for Warner Bros. and HBO. In a letter…
Paramount has approached Warner Bros. Discovery’s shareholders with an all-cash offer, CNN is reporting. The film studio will place the bid in order to gain control of Hollywood’s most lucrative mass media and entertainment conglomerate. Paramount’s offer to purchase WBD comes after Netflix placed a bid on Friday. However, Paramount was originally considered to be the…
©Courtesy of Netflix and Warner Bros. Discovery Netflix announced today an $82.7 billion deal to acquire Warner Bros. Discovery, a move that will have a vast impact on the media industry. Warner’s studio operations and its streaming business are included in the arrangement, which is expected to happen by the third quarter of 2026. Under…
@Courtesy of Comcast According to published reports, Comcast has hired Morgan Stanley and Goldman Sachs as financial advisors in its pursuit of a potential takeover of Warner Bros. studio and streaming services. Last week, the CEOs of the two principals—David Zaslav of Warner Bros. Discovery and Brian Roberts of Comcast, hunkered down to discuss their…
@Courtesy of Warner Brothers Warner Bros. Discovery will be reviving the Gremlins franchise with Gremlins 3, a new sequel scheduled for theatrical release on November 19, 1927, according to David Zaslav, the studio’s CEO and president. Zaslav told investors this week that Steven Spielberg will be returning as executive producer of the upcoming production, which…
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