Warner Bros. Discovery has formally rejected a hostile takeover proposal from Paramount Skydance, reaffirming its commitment to an existing merger agreement with Netflix and urging shareholders to ignore the rival bid. In a detailed statement released on January 6, the company said its board unanimously determined that the revised Paramount Skydance offer failed to qualify […]
Paramount Skydance bid
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, […]