Netflix buying Warner Bros or maybe Paramount is buying Warner Bros?

altmin said:
And now the trump with his thumb on the scale makes sense
Click to expand...
Even if this hostile takeover fails word is that they will still buy all of WB's TV networks (apparently Netflix isn't interested in those) which includes CNN. Which means if they buy CNN they will immediately move it to the pro-Trump right just as they have CBS. So 2 formerly respected news networks will be owned by the same pro-Trump, pro-MAGA, right-wing corporation. The number of non-right-wing MAGA "news" networks grows slimmer by the day it seems.

ETA: And maybe, just maybe, allowing a handful of plutocrats and corporate conglomerates to buy up nearly all of our news media wasn't such a good idea. Nah.
 
Mulberry Heel said:
Even if this hostile takeover fails word is that they will still buy all of WB's TV networks (apparently Netflix isn't interested in those) which includes CNN. Which means if they buy CNN they will immediately move it to the pro-Trump right just as they have CBS. So 2 formerly respected news networks will be owned by the same pro-Trump, pro-MAGA, right-wing corporation. The number of non-right-wing MAGA "news" networks grows slimmer by the day it seems.

ETA: And maybe, just maybe, allowing a handful of plutocrats and corporate conglomerates to buy up nearly all of our news media wasn't such a good idea. Nah.
Click to expand...

This is very very bad.
 
evrheel said:
www.rawstory.com

Trump launches 'cynical plot' to turn CNN 'full MAGA': report

A "cynical plot" to turn CNN into a MAGA-friendly channel could be underway as Donald Trump hears out bids from Netflix and Paramount. Paramount CEO David Ellison has reportedly told insiders he would influence CNN into making changes that would benefit the Trump administration. The Wall Street...
www.rawstory.com www.rawstory.com
Click to expand...
Again, this is exactly what Orban did to Hungary's news media - virtually all of it is now owned and under the control of either his government or businesses that are very friendly to his government. It is very, very difficult for his opposition to get their message out now, and has been for some time. And that's exactly what we're seeing happen here.
 
sringwal said:
A bunch of lawyers are going to make enough money that, whether or not they get to celebrate the holidays this year, they will get to celebrate them a lot more moving forward.
Click to expand...
M&A attorneys make a lot more money on deal consummation than in this sort of wrangling. Somebody's attorneys are going to -- I mean, they will be OK, but if they lose the war they won't be raking in the big bonus.
 
superrific said:
M&A attorneys make a lot more money on deal consummation than in this sort of wrangling. Somebody's attorneys are going to -- I mean, they will be OK, but if they lose the war they won't be raking in the big bonus.
Click to expand...
Pretty much all the big guys have a hand in this. From Bloomberg --

Paramount Skydance Corp. turned to lawyers from Cravath, Swaine & Moore and Latham & Watkins to make a hostile bid for Warner Bros. Discovery Inc., days after Warner Bros. reached a deal with Netflix Inc.

The Cravath team assisting Paramount includes firm leader Faiza Saeed, along with partners Andrew Pitts, Daniel Cerqueira and Claudia Ricciardi, according to a securities filing on Monday. Cravath, led by Saeed, Cerquira and Ricciardi, advised the Paramount Special Committee in its merger earlier this year with Skydance Media.

Latham’s team is led by partners Ian Nussbaum, who joined the firm from Cooley LLP in 2023, and Max Schleusener, who according to his LinkedIn profile has been with the firm for more than 11 years. The duo guided Skydance in its merger with Paramount and steered Paramount Skydance in its acquisition of The Free Press.

Paramount Skydance offered $30 a share in cash Monday for Warner Bros. Discovery, topping Netflix’s bid of $27.75 announced Friday. Paramount, which made a previous bid for the business, said in a letter that a deal with Netflix would likely be blocked on antitrust and other grounds.

A team of lawyers from Cahill Gordon & Reindel guided the bridge agent and lead arrangers of the debt financing for Paramount’s bid, according to the firm. Cleary Gottlieb Steen & Hamilton guided a special committee of the Paramount board, according to a filing.

If Warner Bros. breaks its current agreement, it will be required to pay Netflix a $2.8 billion fee, a cost typically borne by the new acquirer. Netflix has agreed to pay $5.8 billion to Warner Bros. if the deal falls through or fails to win regulatory approval.

Skadden, Arps, Slate, Meagher & Flom is guiding Netflix. Warner Bros. turned to attorneys from two firms—Debevoise & Plimpton and Wachtell Lipton Rosen & Katz—to steer the transaction.

Covington & Burling and Fried Frank Harris Shriver & Jacobsen provided antitrust counsel to Warner Bros. in the deal and will continue to advising the company as the battle to close one of the biggest media deals continues, according to people familiar with the matter.

Paramount brought on Latham partner Makan Delrahim as its new chief legal officer in September. Delrahim served as chief of the Justice Department’s antitrust division in the first Trump administration and as a former deputy White House counsel.
 
You must log in or register to reply here.
Back
Top