Image: Reuters Warner Bros Discovery’s board has rejected Paramount Skydance’s US$108.4-billion hostile bid on Wednesday, saying it failed to provide adequate financing assurances. In a letter to shareholders, disclosed in a regulatory filing, the board wrote that Paramount had “consistently misled” Warner Bros shareholders that its $30/share cash offer was fully guaranteed, or “backstopped”, by…
Paramount Skydance on Monday launched a hostile, US$108.4-billion bid to buy Warner Bros Discovery, throwing a wrench into the $72-billion deal with Netflix in a last-ditch effort to create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and…
Paramount Skydance is working with an investment bank as it prepares an offer for Warner Bros. Discovery, according to people familiar with the matter. Warner Bros. Discovery had yet to receive an offer as of Thursday, according to people familiar with the matter, who spoke on the condition of anonymity to discuss nonpublic dealings. A…
Jon Stewart lambasted CBS’ decision to cancel “The Late Show With Stephen Colbert” on Monday’s episode of “The Daily Show,” ripping their shared parent company, Paramount Global, for what he called a capitulation to President Donald Trump. Stewart referred to Paramount’s intended merger with Skydance in an $8 billion deal, which is pending government approval,…
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