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Thomas Hawk
As of January 21, the initially stated date, Paramount had obtained tender orders from owners of 168.5 million WBD shares, accounting for 6.8% of the overall outstanding shares.
Paramount announced its plan to buy back WBD shares at $30 each and aims to provide investors time to realize that its proposal is better than the rival bid from Netflix Inc.
On Tuesday, it was revealed that Netflix had revised its proposal to purchase WBD assets (Warner Bros. film studio, HBO television channel, and HBO Max streaming service) and consented to an all-cash deal. In early December, Netflix revealed an agreement set at $27.75 per share, involving $23.25 in cash and $4.50 in Netflix stock.
Paramount intends to purchase all of WBD, encompassing its Global Networks division, which features major entertainment, sports, and news channels like CNN, TNT Sports, and Discovery. The deal with Netflix stipulates the separation of Global Networks into an independent entity.
Paramount's proposal estimates WBD at $108.4 billion, whereas Netflix estimates it at $82.7 billion.
source: bloomberg.com
Paramount announced its plan to buy back WBD shares at $30 each and aims to provide investors time to realize that its proposal is better than the rival bid from Netflix Inc.
On Tuesday, it was revealed that Netflix had revised its proposal to purchase WBD assets (Warner Bros. film studio, HBO television channel, and HBO Max streaming service) and consented to an all-cash deal. In early December, Netflix revealed an agreement set at $27.75 per share, involving $23.25 in cash and $4.50 in Netflix stock.
Paramount intends to purchase all of WBD, encompassing its Global Networks division, which features major entertainment, sports, and news channels like CNN, TNT Sports, and Discovery. The deal with Netflix stipulates the separation of Global Networks into an independent entity.
Paramount's proposal estimates WBD at $108.4 billion, whereas Netflix estimates it at $82.7 billion.
source: bloomberg.com
