Tag: David Ellison

“WBD has failed to include any disclosure about how it valued the Global Networks stub equity, how it valued the overall Netflix transaction, how the purchase price reduction for debt works in the Netflix transaction, or even what the basis is for its ‘risk adjustment’ of our $30 per share all-cash offer.”

The rejection was expected, as Paramount presented the same all-cash terms as its initial offer of $30 per share in mid-December.

"Paramount Skydance went public earlier this month with a $30-per-share all-cash offer for Warner Bros. Discovery."

"Larry Ellison has agreed to provide an irrevocable personal guarantee of $40.4 billion of the equity financing for the offer and any damages claims against Paramount"

"Following a careful evaluation of Paramount’s recently launched tender offer, the Board concluded that the offer’s value is inadequate, with significant risks and costs imposed on our shareholders"

"Our deal provides a significant amount of synergies in sports rights that will be able to protect those linear properties"

"The correspondence comes amid a heated second round of bids, due December 1, for the studio giant, which WBD hopes to sell or restructure by the end of the year"

Furthermore, the network is closing its Johannesburg bureau in a cost-cutting measure.

"We are phasing out roles that are no longer aligned with our evolving priorities and the new structure designed to strengthen our focus on growth."

"It means a redoubled commitment to great journalism. It means building on a storied legacy and bringing that historic newsroom into 2025 and beyond."