Paramount's $78B Bid for Warner Brothers Discovery

Paramount Launches Bold Takeover Bid for Warner Brothers Discovery: A Cash Offer of $30 per ShareIn a surprising turn of events, Paramount has made a hostile takeover bid for Warner Brothers Discovery, offering $30 per share, totaling $78 billion. This move aims to acquire the entire company, including popular cable channels like CNN and HBO Max. Paramounts offer is considered superior to Netflixs $72 billion proposal, which included a mix of cash and stock. Paramounts bid is an all-cash offer, representing a 139% premium over Warner Brothers Discoverys stock price. The board of directors at Warner Brothers is reviewing the offer, and shareholders are advised not to take any action at this time.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.