Warner Bros Discovery Board Declines Paramount Skydance Acquisition Offer: Source
A recent development in the entertainment industry saw Warner Bros Discovery’s board turn down an acquisition offer from Paramount Skydance. This bid was estimated at nearly $24 per share for the company, with an overall valuation close to $60 billion. The proposed acquisition included Warner Bros’ extensive film and television studios, its various cable networks such as CNN, and the HBO Max streaming service.
Details of the Acquisition Offer
The proposal from Paramount Skydance aimed to significantly expand its portfolio by acquiring Warner Bros. However, the board of Warner Bros Discovery unanimously rejected the offer early on Tuesday morning.
Magnitude of the Offer
- Offer Price: Nearly $24 per share
- Total Valuation: Approximately $60 billion
- Included Assets: Warner Bros film and television studios, CNN, HBO Max
Company Responses
As of now, neither Warner Bros Discovery nor Paramount has publicly commented on the rejected offer. This silence adds an element of intrigue to the negotiations and the future potential of both companies in a competitive entertainment landscape.
This decision highlights Warner Bros Discovery’s strategic positioning within the industry, as it evaluates its options moving forward.
