Paramount Skydance’s revised offer to acquire Warner Bros Discovery has failed to satisfy at least one major shareholder, raising fresh doubts over the success of the $108.4 billion hostile bid. Harris Oakmark, Warner Bros’ fifth-largest shareholder, said the updated proposal still does not offer enough incentive to abandon a rival deal. Read More: Warner Bros. […]
media mergers
Netflix refinances $25 billion to back Warner Bros deal
Netflix has refinanced part of a $59 billion bridge loan for its potential Warner Bros Discovery acquisition. The company secured a $5 billion revolving credit facility and two $10 billion delayed-draw term loans. About $34 billion of the bridge loan remains to be syndicated. Netflix won the financing through a competitive auction, beating rival bids, […]
High-stakes takeover battle intensifies at Warner Bros Discovery
The board of Warner Bros Discovery is expected to decide as early as Wednesday on Paramount Skydance’s takeover proposal, according to sources familiar with the matter. The board is likely to advise shareholders to vote against the offer, signaling a preference for an alternative deal. Read More: Netflix to acquire Warner Bros Discovery for $72bn A decision […]