Warner Bros. rejects Paramount bid
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NEW YORK (AP) — Warner Bros. is telling shareholders to reject a takeover bid from Paramount Skydance, saying that a rival bid from Netflix will be better for customers and creators.
Warner Bros. Discovery CEO David Zaslav said Wednesday that the regulatory review of Warner’s deal with Netflix has begun, even as Paramount mounts a hostile takeover bid. Two senators are now coming forward and pressing Attorney General Pam Bondi to recuse herself from the review of the deal.
Ted Sarandos and Greg Peters, the co-CEOs of Netflix, issued a memo to staffers that conveyed their belief that the company’s deal to buy Warner Bros. and HBO Max will withstand a counterattack by David Ellison’s Paramount Skydance and will clear regulatory hurdles.
Netflix wants to buy Warner Bros. Discovery to challenge YouTube's dominance. Netflix claims this merger would only slightly increase its viewership
Interviews with dozens of actors, producers and camera crews reveal an industry attempting to weigh the lesser of two horrible choices.