9 months ago
Paramount Denies $71B Warner Bros. Bid Report
Paramount says it's not making a $71 billion bid for Warner Bros., despite a report saying otherwise.
Warner Bros.
is up for sale, and many companies are interested in buying it.
A merger between Paramount and Warner Bros.
would be big, but it might face rules that stop it from happening.
Paramount Skydance Corp. denies report of $71 billion bid for Warner Bros. Discovery Inc.
Variety reported the bid involving Middle Eastern sovereign wealth funds, but Paramount calls the information 'categorically inaccurate'
Warner Bros. has set a deadline for bids on Thursday, with Paramount, Netflix, and Comcast expected to make offers
A merger between Paramount and Warner Bros. would reshape the media industry and likely face regulatory scrutiny
Warner Bros. CEO David Zaslav favors splitting the company in two, while the Ellisons back a straightforward deal
- Who
- Paramount Skydance Corp., Warner Bros. Discovery Inc., Middle Eastern sovereign wealth funds, Netflix Inc., Comcast Corp.
- What
- Denial of a reported $71 billion bid for Warner Bros.
- Where
- United States
- When
- Variety report published, Warner Bros. bid deadline on Thursday
- Why
- Warner Bros. is up for sale, and companies are interested in buying it
Paramount's Stance
Variety's Report
Bid Existence
Paramount's Stance
Denies the existence of a $71 billion bid
Variety's Report
Reports the existence of a $71 billion bid
Key facts
- Variety Report
- Paramount Skydance Corp. working with Middle Eastern funds on $71 billion Warner Bros. bid
- Paramount Statement
- Information in Variety report is categorically inaccurate
- Warner Bros. Bid Deadline
- Thursday
- Interested Parties
- Paramount, Netflix, Comcast
- Warner Bros. CEO's Plan
- Split the company in two
Quotes
Laurent Yoon
Analyst at Bernstein
“If you put Paramount and Warner together, you don’t quite get Disney scale, but it’s close enough to that.”
livemint.com
Ted Sarandos
Co-Chief Executive of Netflix
“Our strategy is to give our members exclusive first-run movies on Netflix.”
livemint.com
David Zaslav
Chief Executive of Warner Bros. Discovery
“Warner and its chief executive, David Zaslav, might be hard-pressed to keep turning away David Ellison, CEO of Paramount.”
livemint.com
