Paramount makes hostile bid to buy Warner Bros. Discovery
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David Ellison is officially chairman and CEO of Paramount Skydance after an $8 billion tie-up. Next on his wish list: Warner Bros Discovery.
That morning, Paramount Skydance announced it had submitted a bid to acquire fellow entertainment company Warner Bros Discovery. The all-cash offer boils down to $30 per Warner Bros discovery share, and it targets the entirety of the company rather than a large chunk of it.
David’s career in the film and TV industry is changing now that he’s the CEO of Paramount. Learn about him here.
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Trump now slams Paramount-Skydance deal after Marjorie Taylor Greene bashes him on '60 Minutes'
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In a twist of fate, Paramount Skydance has made a hostile takeover bid for Warner Bros, and Paramount may end up becoming the new owner of WB Games.
Paramount is offering $30-a-share for the company, valuing WBD's equity at $77.9 billion, or $108 billion including debt. That compares to $27.75 a share that WBD would get from Netflix. The Paramount bid is also all cash, while Netflix had offered $23.50 in cash, with the remainder coming in stock.