Takeover? On Friday, streaming giant Netflix announced an $83 billion deal to buy Warner Bros. Discovery, a deal agreed to by both boards. Then on Monday, Paramount launched a hostile takeover bid, in competition with Netflix, to try to secure Warner Bros. as its own. Paramount went straight to shareholders, circumventing the board, and it's not clear how any of this will shake out.
"Paramount said it would pay $30 per share in cash, valuing the company at around $108 billion, including debt," per The New York Times. "It said it was going to shareholders because the board of Warner Bros. Discovery is 'pursuing an inferior proposal' that would lead to 'a challenging regulatory approval process.'"
