Paramount Skydance wins Warner Bros. Discovery bid for $31 per share. Netflix declines, citing lack of financial吸引力。请注意，您要求的是英文描述，而提供的翻译是中文。以下是正确的英文版本： In
Bidding War Ends: Paramount Skydance Wins Warner Bros. Discovery
In a dramatic conclusion to an intense bidding war for Warner Bros. Discovery, entertainment conglomerate Paramount announced on Thursday that it would acquire the company after receiving its latest bid of $31 per share. This move effectively ended Netflix's $82.7 billion all-cash offer and saw the streaming giant walk away from the deal.
Original Offer Declined
In a joint statement, Netflix co-CEOs Ted Sarandos and Greg Peters expressed their disappointment in declining to match Paramount Skydance’s latest bid. "The transaction we negotiated would have created shareholder value with a clear path to regulatory approval," they stated. However, they added that the deal was no longer financially attractive at the required price, leading them to decline the offer.
Financial Implications and Job Cuts
According to the terms of the original agreement, Warner Bros. Discovery will be required to pay Netflix a $2.8 billion termination fee. Paramount’s bid includes this breakup fee, ensuring a smoother transition. With Paramount already owning major studios and entertainment businesses, including news network CBS, the deal will see the acquisition of Warner Bros. Discovery in its entirety, including its studios, streaming service, games division, linear television networks like CNN, TBS, TNT, Discovery, and HGTV.
Ellison's Involvement and Controversies
The renewed offer is backed by Larry Ellison, one of the world’s wealthiest individuals with a net worth of $201 billion. His involvement has raised eyebrows given his ownership stake in CBS, a network known for its conservative leanings. Ellison’s support of the deal comes after controversial statements from Bari Weiss, editor-in-chief of CBS News and a vocal critic of former President Trump.
Future Outlook
Paramount will take on Warner Bros. Discovery's approximately $33 billion in debt. The deal is being financed with a $57.5 billion commitment from Bank of America Merrill Lynch, Citi, and Apollo Global Management. Shares in both Netflix and Paramount saw significant movement following the news: Netflix shares jumped as much as 10% after hours, while Paramount's share price rose by 4.5%.
Market Reaction
The market reaction was swift and positive, with both companies seeing notable gains. The acquisition is expected to significantly expand Paramount’s portfolio and global reach, making it a formidable player in the ever-evolving entertainment landscape.
### Conclusion
As the dust settles on this intense bidding war, the future of Warner Bros. Discovery under Paramount's ownership remains uncertain but promising. The deal signals significant shifts in the entertainment industry, with potential implications for job cuts and regulatory approval processes ahead.
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