24 Feb Pre Market News
Great news!! My hope is that Warner Bros accepts Paramount's Final Offer. In the short term, Netflix stands to gain a $2bn breakup fee and stock buyback will resume. Netflix will Rocket 🚀🚀🚀 once the news release !!
Paramount Skydance has increased its bid for Warner Bros Discovery, Reuters reported on Monday, raising the stakes in the bidding war for the historic studio and its broadcast and cable TV assets in an effort to beat out rival suitor Netflix.
It could not immediately be determined how the bid was revised. Warner Bros and Paramount declined to comment, while Netflix could not immediately be reached.
Two days earlier, in an interview with Variety, Sarandos declined to say how Netflix would respond to a higher offer from Paramount. But he did say that Netflix had a “rich history” of being “willing to walk away and let someone else overpay for things”.
“The next move is up to somebody else. We have a signed deal with Warner Bros Discovery,” Sarandos said. “If someone wants to make a better deal, which the Warner Bros Discovery board has said has not happened yet, then we’ll see what happens down the road.”
But if Warner Bros Discovery agrees to Paramount Skydance’s revised offer, it will be obliged to pay a $2.8bn breakup fee to Netflix.
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