Paramount, Netflix and hostile bid
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Netflix now trades 30% off its all-time high. At a price-to-earnings ratio of 38, Netflix, a company that analysts (pre-acquisition) estimate will grow earnings at an annualized rate of 23% over the long term, looks like a strong buy for long-term investors.
Netflix won the bidding war for Warner Bros. Discovery’s (WBD’s) streaming and movie studio businesses last week. But Paramount Skydance isn’t relenting on its dreams of owning WBD and is pushing forward with a hostile takeover bid.