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Warner Bros Discovery Inc (NASDAQ:WBD, XETRA:J5A) announced that it will engage with Paramount Skydance Corp (NASDAQ:PSKY) regarding a potential takeover proposal after receiving a limited seven-day waiver from Netflix, even as the company's board reaffirmed its support for the previously announced Netflix merger. The company said Netflix granted the waiver to allow Warner Bros.
Warner Bros. Discovery (WBD) has received quite a bit of attention from Zacks.com users lately.
Warner Bros. Discovery is talking to Paramount Skydance again after the studio sweetened its offer setting up a showdown with Netflix.
CNBC's David Faber joins 'Squawk Box' with the latest news on Warner Bros. Discovery.
Stock futures are pointing lower to open the holiday-shortened trading week after tech-related worries sent U.S. equities sharply lower last week; shares of Norwegian Cruise Line Holdings are gaining as activist investor Elliott Investment Management has reportedly built a stake in the cruise operator; Warner Bros. Discover, which has a deal to be acquired by Netflix, will reopen talks with Paramount Skydance; shares of Masimo are surging following news that the medical device maker is being acquired by Danaher in a $10 billion deal; and cybersecurity software maker Palo Alto Networks is scheduled to report earnings after the closing bell.
Paramount Skydance convinced Warner Bros. to reopen negotiations after signaling it was finally ready to raise its price.
Paramount last week sweetened its $30 per share all-cash offer with an agreement to pay the $2.8 billion termination fee to Netflix, as well as a “ticking fee” for WBD shareholders worth $650 million.
Warner said it had restarted negotiations after Paramount signaled it would be willing to raise its offer to $31 a share.
The Warner Bros. Discovery board sets a seven-day window for Paramount to make its “best and final” takeover offer.
As Paramount continued to lob offers for Warner Bros. Discovery, that continued to be rejected, all at $30 a share in cash, the big question from Wall Street to Hollywood has been why not raise the bid.
Netflix has granted Warner Bros. Discovery a 7-day waiver to reopen deal talks with Paramount Skydance.
Warner Bros Discovery has rejected Paramount Skydance's latest $30-a-share hostile takeover bid, but is giving the Hollywood studio seven days to see if it can come up with a better deal to buy the owner of HBO Max and the "Harry Potter" franchise, Warner Bros said in a statement.
In December, Netflix shocked the world by winning the bidding war for (most of) Warner Bros. Discovery.
Amid all of the ongoing conversation around Netflix and Paramount, Shares of Warner Bros.
Netflix is a global streaming leader with 325m+ subscribers, 97%+ retention, and immense operating leverage supporting long-term growth. The proposed $80B Warner Bros. Discovery acquisition is transformational, adding legacy IP, HBO, and $3B in expected cost synergies, with EPS accretion after year two. Management targets 10%+ long-term revenue growth, 20%+ EPS CAGR, and a $1T market cap by 2030, underpinned by organic expansion and strategic M&A.
It's stil anybody's guess who wins the blockbuster takeover battle, but Polymarket users see this as a neck-and-neck race.
Warner Bros Discovery's (WBD) board is evaluating whether to reopen sale talks with Paramount Skydance (PSKY) after the rival studio submitted a revised takeove
Credit Industriel ET Commercial lowered its holdings in Warner Bros. Discovery, Inc. (NASDAQ: WBD) by 36.4% during the undefined quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 70,000 shares of the company's stock after selling 40,000 shares during the period. Credit
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Warner Bros. Discovery could reveal as early as Tuesday that it will engage with Paramount following the Ellison family's latest offer, which included some significant concessions, Deadline has learned. WBD has a signed deal with Netflix but Par has been lobbing consecutive unsolicited takeover offers, all rejected outright thus far.