WBD Sticks With Netflix

Benzinga

Warner Bros. Discovery reaffirmed its commitment to a signed merger agreement with Netflix, rejecting a rival bid from a Paramount–Skydance group and citing stronger value, deal certainty, and shareholder protections, according to CNBC.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Warner Brothers Discovery chairman Samuel DiPiazza reaffirmed the company's commitment

00:07to its signed merger agreement with Netflix, dismissing a rival bid from Paramount Skydance,

00:13backed by Larry Ellison. Speaking on CNBC on Wednesday, DiPiazza said the Netflix deal offers

00:18compelling value, a clear path to closing, and strong shareholder protections. He said

00:24the Paramount proposal did not raise its price and lacks key elements, making Netflix the superior

00:29offer. DiPiazza said management believes both deals could receive regulatory approval while

00:35warning that leveraged buyout structures carry longer-term financial risks. He cited Netflix's

00:40investment-grade profile and a $5.8 billion breakup fee. The deal faces regulatory and political

00:47scrutiny, including comments from Trump. Shares closed up 0.3% at $28.56 on Wednesday.

00:54For all things money, visit Benzinga.com.

Category

Transcript

Be the first to comment

Recommended