The cinematic clash for Warner Bros Discovery takes a high-stakes turn as Paramount Skydance extends its tender offer deadline to February 20, buying more time to outmaneuver Netflix's competing bid. Paramount, aiming to reshape Hollywood, has already sued Warner Bros to force negotiations.
Netflix recently switched to an all-cash offer of $82.7 billion, upping the ante for Warner Bros. However, Paramount argues its $108.4 billion offer, or $30 per share, should be considered superior. With regulatory clearances pending, the decision ultimately hinges on shareholder votes.
Paramount's strategy includes lobbying Warner investors against Netflix's proposal, which involves substantial debt transfer to Discovery Global. Meanwhile, Netflix's approach aims to entice with HBO Max's potential expansion. As the battle intensifies, shareholder and regulatory decisions will dictate the industry's future landscape.
