{"id":32713,"date":"2025-12-17T16:42:11","date_gmt":"2025-12-17T21:42:11","guid":{"rendered":"https:\/\/cinemadailyus.com\/?p=32713"},"modified":"2025-12-20T22:32:40","modified_gmt":"2025-12-21T03:32:40","slug":"warner-bros-discovery-board-rejects-rival-bid-from-paramount","status":"publish","type":"post","link":"https:\/\/cinemadailyus.com\/?p=32713","title":{"rendered":"Warner Bros Discovery Board Rejects Rival Bid from Paramount"},"content":{"rendered":"\r\n

\u00a9<\/b>Courtesy of Paramount Pictures\u00a0<\/p>\r\n

Warner Bros. Discovery<\/a> announced on Wednesday morning that it is giving a thumbs-down to Paramount<\/a>\u2019s hostile takeover bid, arguing that Netflix<\/a> 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 to its shareholders, Warner\u2019s board declared that Paramount\u2019s bid \u201cprovides inadequate value and imposes numerous, significant risks and costs on WBD.\u201d Paramount countered by arguing that its takeover would offer \u201csuperior value and a faster, more certain path to completion than the Netflix transaction.\u201d

The royal families of Saudi Arabia, Qatar, and Abu Dhabi are the financial sources backing Paramount\u2019s offer, which has raised security questions in the minds of some lawmakers. In a letter to Warner Bros. Discovery, Reps Sam Liccardo and Ayana Pressley wrote that \u201cThis transaction raises national security concerns because it could transfer substantial influence over one of the largest American media companies to foreign-backed financiers.” In its SEC filings, however, Paramount claims that Saudi Arabia, Qatar, and Abu Dhabi have agreed to give up any voting rights if the transaction goes through.<\/p>\r\n

<\/ins>

On Tuesday of this week, Affinity Partners, which is Jared Kushner\u2019s private equity fund, withdrew from the bidding process. Affinity, which is financed in part by Saudi money, stated: \u201cWith\u2004two\u2004strong competitors\u2004vying to secure\u2004the future\u2004of this\u2004unique American\u2004asset,\u2004Affinity\u2004has\u2004decided no longer to pursue\u2004the opportunity\u201d and \u201cWe\u2004continue to\u2004believe\u2004there is a strong strategic rationale for Paramount\u2019s offer,\u201d which is set to expire on January 8, subject to extension.

Meanwhile, Netflix\u2019s co-CEOs Greg Peters<\/a> and Ted Sarandos<\/a> have told employees that \u201cWe have a solid deal in place [that is] great for our shareholders, great for consumers, and a strong way to create and protect jobs in the industry.\u201d Sarandos added that \u201cThe Warner Bros. Discovery Board reinforced that Netflix\u2019s merger agreement is superior and that our acquisition is in the best interest of stockholders.<\/p>\r\n

This was a competitive process that delivered the best outcome for consumers, creators, stockholders and the broader entertainment industry. Netflix and Warner Bros. complement each other, and we\u2019re excited to combine our strengths with their theatrical film division, world-class television studio, and the iconic HBO brand, which will continue to focus on prestige television. We\u2019re also fully committed to releasing Warner Bros. films in theaters, with a traditional window, so audiences everywhere can enjoy them on the big screen.\u201d

Check out other articles by Edward.<\/a>

<\/p>\r\n<\/ins>\r\n","protected":false},"excerpt":{"rendered":"

\u00a9Courtesy of Paramount Pictures\u00a0 Warner Bros. Discovery announced on Wednesday morning that it is giving a thumbs-down to Paramount\u2019s 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…<\/p>\n","protected":false},"author":3,"featured_media":32758,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32],"tags":[2708,29222,29223,92,81,7777,13252,9425],"acf":[],"yoast_head":"\nWarner Bros Discovery Board Rejects Rival Bid from Paramount | Cinema Daily US<\/title>\n<meta name=\"description\" content=\"Warner Bros. 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