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5.2012899198954E-05 0 0.000208051596795964 -0.00093623218558206 -0.00145636117757204 0.00889940705294905 0.00871944242172059 0.00827005097264123
Stock impact report

Warner Bros Discovery board rejects rival bid from Paramount [Yahoo! Finance]

Netflix, Inc. (NFLX) 
Last netflix, inc. earnings: 4/21 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
Company Research Source: Yahoo! Finance
billion hostile bid on Wednesday, saying it failed to provide adequate financing assurances. In a letter to shareholders, disclosed in a regulatory filing, the board wrote that Paramount had "consistently misled" Warner Bros shareholders that its $30-per-share cash offer was fully guaranteed, or "backstopped," by the Ellison family, led by billionaire and Oracle CEO Larry Ellison. "It does ?not, and never has," the board wrote of the guarantee of Paramount's offer, noting that the offer posed "numerous, significant risks." The board said it found Paramount's offer "inferior" to the merger agreement with Netflix 's. Netflix's $27.75 per share offer for ?Warner Bros' film and television studios, its library and the HBO Max streaming service is a binding agreement that requires no equity financing and has robust debt commitments, the board wrote. Warner Bros has not yet set a date for a shareholder vote on the deal but it is expected to happen sometime in ?spring or early summer, Show less Read more
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