Paramount made a counter-bid of $108.4 billion (~RM 447 billion) to buy all of Warner Bros. Discovery (WBD) yesterday, even though the company had already accepted an $82.7 billion bid from Netflix last week. Through this bid, Paramount wants to pay $30 per share compared to just $27.75 offered by Netflix.
Paramount was the first company to announce its interest in buying WBD before Netflix and Comcast also announced the same intention. In an announcement made yesterday, Paramount said that it contacted WBD's board of directors six times but their offer was rejected, allegedly more interested in selling the company to Netflix.
This offer made by Paramount is directly to the company's shareholders at a premium of 139% to the company's current share price, which is currently at $12.54. WBD will also be purchased in its entirety by Paramount. Netflix is only interested in buying Warner Bros Television, Warner Bros Motion Picture Group, DC Studios, HBO and HBO Max. The Global Networks business is separated into It consists of the entertainment, sports and news channel businesses CNN, TNT Sports, Discovery networks, the Discovery+ streaming platform and Bleacher Report.
