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-0.000352112676056393 -0.000352112676056393 -0.000704225352112661 -0.00140845070422532 -0.00176056338028172 0 -0.00140845070422532 0
Stock impact report

Paramount extends deadline for Warner Bros. offer, which company calls 'inferior scheme' amid Netflix deal [Yahoo! Finance]

Warner Bros. Discovery, Inc. - Series A (WBD) 
Company Research Source: Yahoo! Finance
recommend shareholders vote for its deal to be bought by Netflix ( NFLX ) as the Hollywood studio drama continues to rock the media world. Early Thursday, Paramount said in a new proxy filing that its all-cash, $30 per share offer to acquire all of WBD would be extended to Feb. 20; the initial bid was set to expire on Jan. 21. Earlier this week, Netflix announced an amended all-cash offer of $27.75 per share for Warner Bros.' studio and streaming assets. Paramount's deal would see the company also take on Warner Bros.' cable unit, Discovery. In a statement to Yahoo Finance, Warner Bros. Discovery urged shareholders to vote against Paramount's offer, saying the company "continues to make the same offer our Board has repeatedly and unanimously rejected in favor of a superior merger agreement with Netflix." "It's also clear our shareholders agree, with more than 93% also rejecting Paramount's inferior scheme. We are confident in our ability to achieve regulatory approval for the Ne Show less Read more
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