statement<\/a> of their own.<\/p>\n\u201cThe transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we\u2019ve always been disciplined, and at the price required to match Paramount Skydance\u2019s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid,\u201d Sarandos and Peters said.<\/p>\n
The company heads added that they believe Netflix would have taken good care of the Warner Bros. IP (intellectual property) and \u201cstrengthened the entertainment industry and preserved and created more production jobs in the U.S.\u201d<\/p>\n
\u201cBut this transaction was always a \u2018nice to have\u2019 at the right price, not a \u2018must have\u2019 at any price,\u201d they concluded.<\/p>\n
Paramount\u2019s most recent bid raised the per-share price to $31, and featured a ticking fee, which would have paid shareholders if the deal took too long to come to fruition. Additionally, the company offered a $7 billion breakup fee, which would be paid if the deal were to fall through due to regulatory issues, and a nearly $3 billion fee that Warner Bros. owes Netflix as a result of their prior deal not materializing.<\/p>\n
Netflix\u2019s last offer was valued at $82.7 billion, and was aimed at purchasing Warner Bros.\u2019 film and streaming divisions (HBO Max), as well as DC Comics. Paramount, on the other hand, would be purchasing all of Warner Bros. Discovery, including its linear and cable TV networks.<\/p>\n
There has been much consternation in Hollywood, especially following the Disney-Fox acquisition, over the Warner Bros. bidding war, with many in the industry voicing concerns that further media consolidation would do irreparable damage to the movie and TV business, with lost jobs and fewer options for creatives.<\/p>\n
Though neither company (Paramount or Netflix) were favored by those in the industry, Netflix was viewed with a particularly skeptical eye as some questioned the streaming giant\u2019s commitment to the theatrical experience. Others view Paramount CEO David Ellison\u2019s apparently close relationship with the Trump administration as a reason for pause.<\/p>\n<\/div>\n
\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"In a stunning twist in the months-long war between Netflix and Paramount over which company would purchase Warner Bros., the streaming giant has bowed out. After Warner Bros. released a statement on Thursday saying that the company\u2019s board of directors viewed Paramount\u2019s latest offer as a \u201csuperior proposal,\u201d and that Netflix had four days to […]<\/p>\n","protected":false},"author":1,"featured_media":21122,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-21121","post","type-post","status-publish","format-standard","has-post-thumbnail","category-current-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/posts\/21121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/comments?post=21121"}],"version-history":[{"count":0,"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/posts\/21121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/media\/21122"}],"wp:attachment":[{"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/media?parent=21121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/categories?post=21121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nationalgunowner.org\/index.php\/wp-json\/wp\/v2\/tags?post=21121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}