Warner Bros Discovery is splitting into 2 companies (WB/HBO vs Turner/Discovery)

[EzekelRAGE]

Maybe Netflix says fukk it and does get WBD or could be posturing from WBD to up the bid

Paramount Calls WBD Sale Process “Tilted And Unfair” In Letter To CEO David Zaslav

Paramount is calling foul on Warner Bros. Discovery sale process, accusing the company of running an unfair process that it thinks favors Netflix.

deadline.com

TLDR: Apparently Paramount mad that WBD may be leaning Netflix.

Paramount is calling foul in the Warner Bros. Discovery sale process, accusing the company of running an unfair process that it thinks might favor Netflix.
“It has become increasingly clear, through media reporting and otherwise, that WBD appears to have abandoned the semblance and reality of a fair transaction process, thereby abdicating its duties to stockholders, and embarked on a myopic process with a predetermined outcome that favors a single bidder. We specifically request and expect this letter will be shared and discussed with the full board of directors of WBD,” the David Ellison company wrote in a letter to WBD CEO David Zaslav.

“Please be assured that the WBD Board attends to its fiduciary obligations with the utmost care, and that they have fully and robustly complied with them and will continue to do so,” said WBD attorneys in response. They said the letter from Par has been shared with WBD’s board.

Paramount, Netflix and Comcast have made offers for all or part of Warner Bros. Discovery in a sale process that kicked off in October. Second round bids came in this week. The company formally put itself on the block to open the process to other bidders after receiving three consecutive offers from newly merged Paramount Skydance.

Paramount’s missive cited press reports that WBD management was warming to a Netflix offer. “We have come to you first to inquire whether this reporting is accurate, and to engage in a productive discussion with you around any actual or perceived issues that it may reflect.”

The company also accused WBD management of conflict of interest. It did not name names but Paramount had offered Zaslav a role at a combined company in one of its previous offers.

“Paramount has a credible basis to believe that the sales process has been tainted by management conflicts, including certain members of management’s potential personal interests in post-transaction roles and compensation as a result of the economic incentives embedded in recent amendments to employment arrangements. These concerns are amplified by indications of director bias and beholdenness to others whose interests may not align with the stockholders’, and the fact that alternatives involving only certain WBD assets are being prioritized notwithstanding their heightened regulatory risk and potential to deprive stockholders of consideration for the entirety of WBD’s enterprise value,” reads the letter.

Paramount said it had “agreed to certain standstill arrangements in exchange for the opportunity to participate in a truly competitive and unbiased bidding process. Paramount did not bargain for WBD to foster, whether intentionally or unintentionally, a tilted and unfair process.”

 

[MarcP]

Netflix is the worst option. If Paramount or Comcast get it, WB will still have significant theatrical releases past the next year or 2. Corporations been playing hot potato with Warner for years now. After like 10 years they'll get sold off again MOSTLY INTACT. Netflix is going to strip Warner down to the IPs and HBO brand name and do away with the rest. Its going to kill theatrical movies completely.

Imagine this year's Warner Bros line up that made a lot of money in theaters making less than half of what it did or disappearing all together. Theaters would be out of business before 2035.

 

[Rekkapryde]

They're basically trying to scare off Netflix on getting WB. It's why I mentioned the only way to throw off the antitrust issue is to give the streaming side of WB over to Discovery, however, with the current administration they'll look for every reason to stop Netflix from getting WB.

I was against Netflix getting WB at first, but considering what's going on and if they're willing to keep the theatrical releases along with putting their own movies in theaters. Then, I'm fine with them getting WB seeing as Comcast ain't gonna stand a chance.

Spoiler

I would be fine with Comcast just to spite the Ellisons

Coli Bros gonna buy