Who is buying Warner Bros?
Asked 10 hours ago
Answer
Netflix is acquiring Warner Bros. Discovery's studio and streaming assets after winning a competitive bidding war against Paramount and Comcast. The deal values Warner Bros. at over $30 per share and is expected to face regulatory scrutiny due to antitrust concerns. Paramount may attempt a hostile bid, but Warner Bros. favored Netflix's mostly cash offer, citing its financial strength and strategic advantages. The acquisition does not include Warner Bros.' cable networks, which will be spun off.
Now Playing
Netflix to buy Warner Bros Studios in multi-billion dollar deal
- Netflix agrees to buy Warner Bros for $83 billion 6s
- Deal creates world's largest streaming service 10s
- Warner Bros' cable unit excluded from the deal 51s
- Lawmakers urge Justice Department to scrutinize merger 1m 25s
- Senator Warren warns of possible higher prices, fewer choices 1m 33s
References
Rogers states Warner Bros. Discovery accepted Netflix's bid because it was the highest, consisting of mostly cash, some Netflix stock, and an additional $3 to $4 per share from spinning off cable networks, totaling over $30 per share.
Netflix's winning bid was $27.75 per share for just the studio and streaming assets, while Paramount offered $30 all cash for the entire company, including linear cable networks; Warner Brothers Discovery values its cable assets at around $3 per share, making the total value of Netflix's offer $30.75 per share.