Paramount Skydance Launches $108.4 Billion Hostile Bid for Warner Bros. Discovery
By
gniting
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Summary
Paramount Skydance is launching a hostile takeover bid for Warner Bros. Discovery with a $30 per share all-cash offer, equating to $108.4 billion enterprise value. This comes after Paramount lost a bidding war to Netflix for Warner Bros. film studio and HBO Max. The offer is backed by equity financing from the Ellison family and RedBird Capital, plus $54 billion in debt commitments from major financial institutions. Paramount CEO Ellison stated the goal is to 'finish what we started' in the media consolidation landscape.
Key quotes
· 4 pulledParamount Skydance is launching a hostile bid to buy Warner Bros. Discovery after it lost out to Netflix in a monthslong bidding war for the legacy assets
Paramount will go straight to WBD shareholders with an all-cash, $30 per share offer
The offer is backstopped with equity financing from the Ellison family and the private equity firm RedBird Capital as well as $54 billion in debt commitments from Bank of America, Citi and Apollo Global Management
to finish what we started
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