Paramount, Bidding war
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We haven’t prioritized theatrical in the past because that wasn’t our business at Netflix. When this deal closes, we will be in that business.”
Paramount sent a letter from CEO David Ellison addressed to Warner Bros. Discovery shareholders that 'clearly sets out why Paramount’s $30.00 per share all-cash offer to acquire all of WBD is superior to WBD’s transaction with Netflix.
The offer to shareholders comes days after Warner Bros. agreed to sell its streaming and studio business to Netflix.
David Ellison has launched a hostile takeover bid for Warner Discovery, taking his case directly to shareholders after Netflix clinched a deal.