Warner Bros Discovery is considering reopening sale talks with Paramount Skydance Corp, according to a Bloomberg report.
The move comes after Paramount amended its bid for Warner Bros Discovery (WBD) as part of its hostile bid, which promised shareholders $30 per share to take over all of WBD.
Members of the WBD board are discussing whether Paramount's offer might be better than a rival bid by Netflix – a move that could lead to a second bidding war for the legendary Hollywood studio.
Bloomberg reported that members of the WBD board haven’t yet decided how to respond to Paramount’s renewed bid.
WBD has agreed to sell its studio and streaming business to Netflix in a $27.75 a share deal.
As part of an amended bid submitted earlier this month, Paramount said it would cover a $2.8bn fee owed to Netflix if WBD terminates its agreement. The company also said it will compensate WBD shareholders if the deal doesn’t close by December 31, due to its confidence that its deal would be faster to gain regulatory approval than Netflix’s.
Bloomberg said that both Paramount and Netflix have indicated they would be willing to raise their bids to secure a deal for WBD.
David Ellison, Chairman and CEO of Paramount Skydance, recently wrote an open letter to the UK creative community setting out a series of commitments should Paramount succeed in acquiring WBD. Discover more here.
Broadcasters call for programmable 5G connectivity
A collection of broadcasters and technology suppliers has called on mobile operators to enable standardised, interoperable, quality on-demand (QoD) network application programming interfaces (APIs) for live 5G broadcasts.
Jonathan Newman becomes UKTV’s Chief Commercial Officer
UKTV has formally appointed Jonathan Newman as Chief Commercial Officer, and David Swetman as Director of Content Partnerships and Sales for the UK and Ireland at UKTV and BBC Studios.
Netflix raises prices as content spending increases
Netflix has raised its prices for customers in the United States, with all subscription tiers rising by at least $1.
DAZN to bring live sports to the skies and seas
Sports streamer DAZN is set to launch DAZN Inflight, a service designed to give fans access to live sports on the go, whether travelling by plane or boat.
YouTube expected to approach 3 billion global users by 2027 – report
YouTube is expected to approach three billion users worldwide by 2027, while Netflix is forecast to reach over one billion monthly active users globally, according to data from research outfit Omdia.
.jpg)
