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-0.000430663221360963 0 -0.000430663221360963 0.00043066322136081 -0.0073212747631353 -0.00516795865633079 -0.00516795865633079 -0.00516795865633079
Stock impact report

Netflix revises offer to pay all cash for Warner Bros to stave off Paramount [TechCrunch]

Paramount Skydance Corporation - Class B (PSKY) 
Company Research Source: TechCrunch
The new offer serves to simplify the deal structure, the companies said in a statement on Tuesday, “provides greater certainty of value,” and speeds up the timeline for a shareholder vote. Netflix said it would finance the deal with cash, debt, and “committed financing.” The change-up comes as rival suitor Paramount Skydance has intensified efforts to win over WBD's shareholders with its all-cash, $30-per-share offer for the entirety of the company, including getting a $40 billion guarantee from its CEO David Ellison's billionaire dad, Oracle co-founder Larry Ellison. Paramount last week also sued WBD for more information on Netflix's offer and said it would nominate new members to Warner Bros.' board, after WBD rebuffed its offer. The company also sought to expedite the lawsuit, but the court rejected that effort. Netflix, for its part, had until now stuck to its original cash-and-share offer, enjoying the full backing of WBD's board, which has resolutely rejected Paramount's Show less Read more
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