Tag: Paramount Skydance

Paramount Skydance has acquired Tyler Perry’s stake in BET+ and will fold it into Paramount+ at the beginning of June.

Netflix has provided Warner Bros. Discovery (WBD) a limited waiver permitting it to engage in discussions with Paramount Skydance for seven days.

Paramount Skydance has filed a lawsuit against Warner Bros. Discovery, seeking disclosure of more information to WBD shareholders.

One day after Warner Bros. Discovery’s board of directors urged its shareholders to reject Paramount Skydance’s $30-per-share all-cash offer, Paramount has opted not to amend its proposal, reasserting that it is “superior” to WBD’s existing agreement with Netflix.

Warner Bros. Discovery’s board of directors has sent a letter to shareholders unanimously recommending that they reject Paramount’s latest tender offer, amended on December 22.

Warner Bros. Discovery’s board of directors unanimously recommended that the tender offer launched by Paramount Skydance on December 8 be rejected by shareholders.

Paramount Skydance is continuing its campaign for Warner Bros. Discovery, with a letter from David Ellison sent directly to shareholders asserting that the company believes “we are the best stewards not only to build long-term value for the assets but also delight audiences and help cultivate a more vibrant creative community.”

Paramount Skydance has launched a hostile takeover bid for Warner Bros. Discovery, offering an all-cash $30-per-share deal, after WBD entered a definitive agreement with Netflix last week.

Paramount Skydance, Netflix and Comcast have reportedly submitted preliminary bids to buy out Warner Bros. Discovery (WBD).

In the third quarter, Paramount Skydance delivered revenues of $6.7 billion, flat on a pro forma basis compared to the same period a year ago, and a net loss of $257 million.