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Core News Facts
Paramount Skydance has launched a hostile takeover bid for Warner Bros. Discovery (WBD), offering $30 per share, which values the entire company at approximately $108 billion including debt. This bid comes just days after Netflix announced its agreement to acquire WBD for $83 billion, with a breakdown of $27.75 per share for film studios like HBO. Netflix’s acceptanced offer is valued at around $72 billion in equity, and includes a cash payment of $23.25 per share along with $4.50 in Netflix stock.
WBD’s board is currently evaluating Paramount’s offer and is expected to provide further recommendations within ten days. If Netflix’s acquisition is blocked by regulators, it would incur a termination fee of $5.8 billion, while WBD would owe Netflix $2.8 billion if they withdraw from the deal. Following the news, WBD’s stock price has risen daily, indicating potential shareholder preference for the $30 per share offer from Paramount.
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