Entertainment Business
Warner Bros. tower Burbank (mediacityg)
Paramount Skydance comes out swinging in the battle for Warner Bros. Netflix appeared to be the winner in the months-long bidding war for the assets of Warner Bros. Discovery. Last Friday, Netflix announced its $82.7 billion bid to buy the Warner Bros. film and television studios, HBO Max, and HBO. Then yesterday, Paramount launched a hostile bid for all of Warner Bros. Discovery, including the company’s TV networks, like CNN and TNT Sports, for $108.4 billion. Paramount plans to go straight to shareholders with its all-cash offer.
Baseball legend Yogi Berra is credited with saying it first, “it ain’t over till it’s over.” That definitely seems to be the case with the bidding war for Warner Bros. Discovery.
