Overview
- Paramount, Comcast and Netflix are preparing nonbinding bids, with Paramount targeting the entire company and the others focused on the studios and streaming assets.
- Warner Bros. Discovery confirmed a wide-ranging strategic review that includes potential transactions for the whole company or for Warner Bros. and Discovery Global separately.
- An SEC filing shows CEO David Zaslav’s option and employment terms were amended to preserve vesting in a reverse spinoff or qualifying change in control and to keep him in place through 2030 under certain outcomes.
- The board has previously rejected multiple Paramount overtures, including a most recent offer reported at $23.50 per share, as too low.
- John Malone said there are three or four aggressive bidders with differing aims, while any deal will face significant regulatory scrutiny in the U.S. and abroad.