Not long ago Netflix shared that it would be buying the century-old Warner Bros. media corp. Now, a new contender has entered the ring, Paramount Skydance. The fellow century-old media corp has put forward a hostile bid of $108 billion that it claims to be more likely to pass than Netflix’s bid.
Reported by Reuters, this is a last ditch effort to win the media company over Netflix. The bid is claimed to be better, as obviously this means more money for investors, but also a better path to regulatory approval. Can’t totally see how this would be the case as this is just two century-old media companies coming together, which feels like more of a monopoly than say Netflix, but that’s neither here nor there.
The bid comes with backstopped equity capital fueled by Paramount’s Ellison family and RedBird Capital, alongside backing from Affinity Partners, Saudi and Qatari sovereign wealth funds, and L’imad Holding Co.
