After Netflix, Paramount launches a bidding war for Warner Bros Studios

Previously, we mentioned that Netflix had announced a full takeover of Warner Bros studios. Now, Paramount made a $108.4 billion (~RM 447 billion) counter-bid to buy all of Warner Bros. So, what should you know about it?

Paramount was the first party to declare interest on Warner Bros

For your information, Paramount wants to pay $30 (~RM123.40) per share compared to just $27.75 (~RM114.20) offered by Netflix. Paramount was the first company to announce its interest in buying WBD before Netflix, and Comcast also announced similar intentions.

In its announcement yesterday, Paramount said it had contacted WBD's board of directors six times, but their offer was rejected, allegedly because they were more interested in selling the company to Netflix. The offer made by Paramount is directly to the company's shareholders at a premium of 139% to the company's current share price, which is currently at $12.54 (~RM51.60).

Moreover, WBD will be acquired in its entirety by Paramount. Netflix is only interested in buying Warner Bros Television, Warner Bros Motion Picture Group, DC Studios, HBO and HBO Max.

In addition, the Global Networks business is being separated into It consist of the entertainment, sports and news businesses, CNN, TNT Sports, Discovery networks, the Discovery+ streaming platform and Bleacher Report.

Stay tuned to TechNave.com for more updates.