Deals & M&A
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Department of Justice Reviewing Paramount’s Warner Bros. Discovery Bid
The regulator has requested additional information about the David Ellison-led media giant’s $108.4 billion tender offer
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Paramount Insists Its WBD Offer Is Still Better Than Netflix’s, but Doesn’t Raise Bid Above $30 Per Share
The company acknowledged Warner Bros.’ latest rejection while reaffirming its standing all-cash offer
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Warner Bros. M&A Cheat Sheet: Paramount’s Latest Rejection, a House Judiciary Hearing and Shareholder Concerns
Everyone’s also keeping an eye on Comcast spinoff Versant, down over 20% to $33.27 since its debut, as a proxy for the value of WBD spinoff Discovery Global
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Deals & M&A
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Warner Bros. Discovery Shareholder Pentwater Capital Management Says Paramount’s Revised Bid Is ‘Economically Superior’ to Netflix
The media giant’s seventh largest shareholder has penned a letter to WBD’s board accusing it of not fully engaging with David Ellison’s amended $108.4 billion bid
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Warner Bros. Discovery Remains ‘Very Open’ to Paramount Deal Despite 8th Rejection, Board Chair Says
Samuel Di Piazza Jr. pushed back against criticism the media giant is shifting the goal posts after rejecting David Ellison’s revised $108.4 billion offer, arguing “nothing is further from the truth”
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Warner Bros. Discovery Rejects Paramount’s Amended $30 Per Share Bid Over ‘Insufficient Value’ and ‘Lack of Certainty’
The board says the revised $108.4 billion bid continues to offer “significant costs, risks and uncertainties” compared to its $83 billion deal with Netflix
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Versant Stock Plunges 13% in Nasdaq Debut
The company, which houses USA Network, MS NOW, CNBC and more, completed its spinoff from Comcast on Friday
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How Major Entertainment Companies’ Stocks Performed in 2025
Netflix is down. Disney holds steady. Warner stock is soaring due to a bidding war
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Business
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The Funding File: The Biggest M&A and VC Deals in Media and Entertainment in 2025
A sleepy start and big finish was the story for media M&A (thank you Warner Bros. Discovery), and AI was the spark for lots of venture capital investments into startups
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Deals & M&A
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Warner Bros. Plans to Reject Paramount’s Latest Bid Despite Larry Ellison’s ‘Irrevocable Personal Guarantee’
Paramount adjusted its hostile takeover bid last week to reassure shareholders of its financing and raise its breakup fee to $5.8 billion
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Warner Bros. Bidding War, Paramount-Skydance Merger Headline an Active Year of Media M&A
Industry consolidation and dealmaking focused on building cross-platform scale will be major themes in 2026 and beyond, experts tell TheWrap
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Why Isn’t Paramount and the Ellisons Showing Warner Bros. Discovery Shareholders the Money? | Analysis
Larry Ellison adding his personal guarantee shows they’re not walking away, but shareholders are really looking for a sweeter bid
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Deals & M&A
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Warner Bros. Discovery to ‘Carefully Review and Consider’ Paramount’s Amended $30-Per-Share, All-Cash Bid
The latest offer includes an “irrevocable personal guarantee” from Oracle co-founder Larry Ellison and a $5.8 billion breakup fee
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Warner Bros. Discovery Shareholder Calls on Netflix to Revise Offer After Paramount Clarifies All-Cash Bid
Mario Gabelli posted that the streaming company needs to simplify its structure, increase its cash portion and address “tax issues”