"For even us, the speed - it feels a little whiplash-y. We're getting our bearings. Together, we can be a great company. It's not easy, but we're getting bigger and we're getting stronger. And you guys are the envy of everyone in this business."
"WBD had agreed to sell its studio and HBO assets to Netflix for $27.75 per share. Paramount launched a rival bid of $30 per share for the whole company, including its cable TV networks, and pitched WBD shareholders that its deal was better."
"WBD underwent a thorough, rigorous strategic review process and was under a legal obligation to continue to review and evaluate unsolicited offers that could bring shareholders more value. Paramount acted with determination in pursuing WBD."
Warner Bros. Discovery CEO David Zaslav addressed employees about the company's impending acquisition by Paramount, replacing a previously agreed Netflix deal worth $27.75 per share. Paramount's rival bid of $30 per share for the entire company, including cable networks, proved more attractive to shareholders. Zaslav acknowledged the speed of the decision felt jarring, stating the company is still adjusting to the change. He emphasized that the merger is necessary for WBD's survival and growth, positioning the combined entity as stronger and more competitive. WBD's leadership conducted a thorough strategic review process and evaluated unsolicited offers to maximize shareholder value.
Read at Business Insider
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