Getting Hostile

Warner Bros. Discovery’s bidding war is getting a reboot.

After giving a scathing review of Netflix's $82.7B deal with the Bros., Paramount Skydance went around Warner Bros.’ board Monday and presented a $108.4B hostile takeover bid to shareholders for the whole entertainment enchilada: WB Studios, HBO Max, and its cable networks. 

Paramount’s offer—reportedly backed by Jared Kushner’s Affinity Partners, Middle Eastern government-run funds, and Oracle founder Larry Ellison—would give stakeholders $30 per share, $2.25 more than Netflix’s deal. 

Paramount has accused Warner’s board of playing favorites with Netflix. Netflix argues its plan to spin off WBD’s cable networks into a separate company makes its offer worth more than Paramount’s counter. 

Warner Bros. is expected to cast its new owner within 10 business days. 

Verse to consider when the negotiations in your own home get heated… “If, then, there is any encouragement in Christ, if any consolation of love, if any fellowship with the Spirit, if any affection and mercy, make my joy complete by thinking the same way, having the same love, united in spirit, intent on one purpose. Do nothing out of selfish ambition or conceit, but in humility consider others as more important than yourselves. Everyone should look not to his own interests, but rather to the interests of others.”
Philippians 2:1-4 (CSB) (read full passage)