"Days after Warner agreed to be bought by Netflix in early December, Paramount launched a rival bid that seeks to bypass Warner's management and appeal directly to its shareholders with more money. Paramount is offering $30 per Warner share to Netflix's $27.75. Warner, one of the "big five" Hollywood studios, owns Warner Bros. Pictures, HBO, the DC Comics universe and the Harry Potter franchise."
"In its appeal to shareholders, Paramount argued its offer may be more likely to pass regulatory scrutiny from the Trump administration. The president has said the Warner and Netflix deal "could be a problem" due to the size of the combined market share. Kushner's decision to pull his firm's financial backing takes away a possible Paramount advantage to win over Trump."
Paramount launched a $30-per-share hostile bid for Warner Bros. Discovery days after Warner agreed to be bought by Netflix for $27.75 per share, seeking to bypass Warner management and appeal directly to shareholders with a tender offer. Paramount offered to acquire Warner's full portfolio, including assets Netflix excluded, arguing the bid might face less regulatory resistance under the Trump administration. Jared Kushner's Affinity Partners withdrew its financial backing for Paramount's bid, eliminating a possible avenue to influence the Trump administration. The amount Affinity planned to contribute was not disclosed in Paramount's SEC filings.
Read at Fast Company
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