Overview
- People familiar with the talks say the revised bid would replace December’s cash-and-stock structure for the HBO Max and Warner Bros. studio assets.
- Paramount Skydance is offering $108.4 billion in cash for all of WBD, including linear cable networks, while WBD’s board continues to favor the Netflix path.
- An all-cash proposal could pull the WBD shareholder vote forward to late February or early March, according to CNBC, addressing concerns raised after Netflix shares fell following the original announcement.
- Paramount has sued in Delaware and launched a proxy push to replace directors, with a tender offer currently set to expire January 21 unless extended.
- Both deals face heavy antitrust scrutiny, with Netflix engaging the Justice Department, and the latest reports nudged WBD up 1.62% and Netflix up 1.02% on Tuesday.