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Warner Bros. investors approve $110 billion sale to Paramount Skydance, following long battle with Netflix [Yahoo! Finance Canada]
Last netflix, inc. earnings: 4/21 04:00 pm
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US:NASDAQ Investor Relations: ir.netflix.com/investor-relations
On Wednesday, Warner Bros. shared that "based on the preliminary vote count from today's Special Meeting, WBD stockholders voted overwhelmingly to approve the adoption of the merger agreement with Paramount." Warner Bros. CEO David Zaslav said in the release that the vote is "another key milestone toward completing this historic transaction that will deliver exceptional value to our stockholders." There are more steps to come, though. Pending regulatory clearances, the transaction is expected to close in the third quarter of 2026. This approval has been a long time coming. Netflix ( ) initially won the bid for Warner Bros. with that was then outbid by Paramount, which offered to pay $31.00 per share in cash and Netflix's $2.8 billion termination fee. This deal combines the streaming services HBO Max and Paramount+ — think "Sopranos" and "SpongeBob SquarePants" under one umbrella or "Euphoria" and "Harry Potter." Zaslav believes the combination will create a "next-generation
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- Netflix (NFLX) had its price target raised by Daiwa Securities Group Inc. from $97.00 to $102.00. They now have an "outperform" rating on the stock.[MarketBeat]
- Warner Bros. shareholders to vote on Paramount takeover still requiring approval from regulators [Globe and Mail, The (Toronto, Canada)][Globe and Mail, The]
- Warner Bros. shareholders to vote on Paramount's US$81 billion takeover of the Hollywood giant [BNN Bloomberg (Canada)][BNN Bloomberg]
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