Warner Bros. Water Tower<\/span><\/p>
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Two months after\u00a0Netflix<\/a> agreed to purchase Warner Bros.<\/a> and several other parts of Warner Bros. Discovery the deal is off. Now Paramount<\/a> Skydance will acquire the entire WBD conglomerate after upping its bid.<\/p>\n After Paramount upped its offer to $31.00 per share in cash, along with a \u201c$7 billion regulatory termination fee payable by PSKY in the event the transaction does not close due to regulatory matter\u201d plus an additional $2.8 billion that will now be paid to Netflix for terminating their earlier agreement, Warner Bros. Discovery\u2019s board deemed it the \u201csuperior\u201d offer. They then gave Netflix four days to match it.<\/p>\n Instead, Netflix took a matter of hours to decide that was more than they were willing to pay. In a statement, Netflix\u2019s CEOs Ted Sarandos and Greg Peters said:<\/p>\n The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we\u2019ve always been disciplined, and at the price required to match Paramount Skydance\u2019s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.<\/p>\n<\/blockquote>\n They thanked WBD for \u201crunning a fair and rigorous process\u201d but said that the deal to buy Warner Bros. movie studio as well as HBO and HBO Max \u201cwas always a \u2018nice to have\u2019 at the right price, not a \u2018must have\u2019 at any price.\u201d<\/p>\n Warner Bros. Water Tower<\/span><\/p>\n
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