Warner Bros. Discovery rejects Paramount bid
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The visit came on the same day that WBD's board officially rejected Paramount Skydance's hostile bid for the company.
Warner Bros. Discovery rejected the $30/share takeover bid from David Ellison's Paramount Skydance, with WBD unanimously backing the deal with Netflix.
We haven’t prioritized theatrical in the past because that wasn’t our business at Netflix. When this deal closes, we will be in that business.”
The streamer's co-CEO made a surprise appearance at a Tuesday night event in Paris, organized by Canal+ Group.
Netflix CEOs call the Warner Bros. acquisition a win, but analysts warn of risks as investors question the $83B deal and Paramount looms.
Hollywood has unleashed a wave of fear that the Netflix acquisition of Warner Bros will further erode the struggling movie business