David Ellison, Chairman and CEO of Paramount, says:<\/p>\n
\u201cWBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company. Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion.<\/p>\n
We believe the WBD Board of Directors is pursuing an inferior proposal which exposes shareholders to a mix of cash and stock, an uncertain future trading value of the Global Networks linear cable business and a challenging regulatory approval process. We are taking our offer directly to shareholders to give them the opportunity to act in their own best interests and maximize the value of their shares.\u201d<\/p>\n
Share<\/a><\/p>\n Updated at\u00a009.33 EST<\/p>\n Key events<\/p>\n Show key events only<\/p>\n Please turn on JavaScript to use this feature<\/p>\n In an interview with CNBC today, Paramount CEO David Ellison said there is an \u201cinherent bias\u201d against his company in the bidding for Warner Brothers.<\/p>\n David Ellison told CNBC:<\/p>\n \u201cWe will be the largest investor in this deal. We\u2019re literally sitting here today because we are fighting for our shareholders, and we\u2019re also fighting for the shareholders of Warner Bros Discovery.\u201d<\/p>\n [Technically, Ellison\u2019s fiduciary duty only extends to his own shareholders, not those of the company he\u2019s trying to buy\u2026.]<\/p>\n Reuters report that some analysts and industry experts see Paramount as the best candidate for acquiring Warner Bros Discovery, given Ellison\u2019s deep pockets – backed by his father, Oracle co-founder and the world\u2019s second-richest person, Larry Ellison, who has close ties with the Trump administration.<\/p>\n And Trump expressed concerns about Netflix\u2019s bid just yesterday\u2026<\/p>\n Share<\/a><\/p>\n \u201cThe Warner Bros Discovery acquisition is far from over,\u201d said Ross Benes, an analyst at Emarketer.<\/p>\n Benes adds:<\/p>\n \u201cNetflix is in the driver\u2019s seat but there will be twists and turns before the finish line. Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged.\u201d<\/p>\n Share<\/a><\/p>\n Updated at\u00a010.18 EST<\/p>\n The pre-market trading was correct!<\/p>\n Warner Brothers\u2019 shares are up 7.6% in early trading on Wall Street, pushing them up to $28.07.<\/p>\n That\u2019s still below Paramount\u2019s new $30 per share all cash bid, but above Netflix\u2019s $27.75 cash-and-share offer.<\/p>\n Share<\/a><\/p>\n There is one crucial difference between the two takeover offers for Warner Brothers Discovery.<\/p>\n Paramount\u2019s bid is for the entirety of Warner Bros \u2013 its cable businesses as well as its studio and streaming operations.<\/p>\n Netflix, though, is only trying to buy the Hollywood studios and streaming business.<\/p>\n Warner Bros had previously announced it would separate its Streaming & Studios and Global Networks divisions into two separate publicly traded companies.<\/p>\n Share<\/a>Warner Bros shares are rallying…<\/p>\n Shares in Warner Brothers Discovery are soaring, after Paramount charged into the takeover battle a few minutes ago.<\/p>\n Warner Bros\u2019s shares have jumped by 7.4% in premarket trading to around $28.<\/p>\n That\u2019s slightly above Netflix\u2019s offer of $27.75 per share, which Paramount has now trumped with its $30\/share offer.<\/p>\n Share<\/a><\/p>\n Updated at\u00a009.26 EST<\/p>\n Paramount: Why our deal is better<\/p>\n Paramount cites three reasons why its offer is better than Netflix\u2019s.<\/p>\n They say:<\/p>\n Price: an all-cash offer at $30.00 per share, equating to an enterprise value of $108.4 billion, which represents a 139% premium to the undisturbed WBD stock price of $12.54 as of September 10, 2025. In contrast, the Netflix proposal entails a volatile and complex structure valued at $27.75 mix of cash ($23.25) and stock ($4.50), subject to collar and the future performance of Netflix, equating to an enterprise value of $82.7 billion (excluding SpinCo).<\/p>\n Structure: Paramount proposal is for all of WBD, without leaving WBD shareholders with a sub-scale and highly leveraged stub in Global Networks, as the Netflix agreement assumes.<\/p>\n Timeline and regulatory certainty: Paramount is highly confident in achieving expeditious regulatory clearance for its proposed offer, as it enhances competition and is pro-consumer, while creating a strong champion for creative talent and consumer choice. In contrast, the Netflix transaction is predicated on the unrealistic assumption that its anticompetitive combination with WBD, which would entrench its monopoly with a 43% share of global Subscription Video on Demand (SVOD) subscribers, could withstand multiple protracted regulatory challenges across the world. In many European Union countries the Netflix transaction would combine the dominant SVOD player with the number two or strong number three competitor. The Netflix transaction creates a clear risk of higher prices for consumers, lower pay for content creators and talent and the destruction of American and international theatrical exhibitors. Netflix has never undertaken large-scale acquisitions, resulting in increased execution risk which WBD shareholders would have to endure.<\/p>\n Share<\/a>Paramount: Warner Bros wouldn’t engage meaningfully, so we’re going straight to shareholders<\/p>\n Paramount also accuses Warner Brothers of \u201cnever engaging meaningfully\u201d with its proposals.<\/p>\n Paramount says it submitting six proposals over the course of 12 weeks during the sale process, so it is now taking its offer directly to WBD shareholders and its Board of Directors \u201cto ensure they have the opportunity to pursue this clearly superior alternative\u201d [to the Netflix offer, which was accepted last week<\/a>].<\/p>\n Paramount\u2019s David Ellison says:<\/p>\n \u201cWe believe our offer will create a stronger Hollywood. It is in the best interests of the creative community, consumers and the movie theater industry.<\/p>\n We believe they will benefit from the enhanced competition, higher content spend and theatrical release output, and a greater number of movies in theaters as a result of our proposed transaction.<\/p>\n We look forward to working to expeditiously deliver this opportunity so that all stakeholders can begin to capitalize on the benefits of the combined company.\u201d<\/p>\n Share<\/a>Paramount makes $108.4bn bid for Warner Bros Discovery, challenging Netflix’s offer<\/p>\n Newsflash: Paramount Skydance has launched a hostile takeover offer for Warner Bros Discovery, in an attempt to derail Netflix\u2019s bid for the movie studio and streaming network.<\/p>\n Paramount claims that its offer \u201cprovides superior value, and a more certain and quicker path to completion to WBD shareholders\u201d than the Netflix offer, which has led to a backlash since it was announced last Friday.<\/p>\n Paramount are offering to pay $30.00 per share in cash for Warner Brothers Discovery, which equates to an enterprise value of $108.4bn \u2013 ahead of Netflix\u2019s offer which was worth $83bn<\/a>.<\/p>\n David Ellison, Chairman and CEO of Paramount, says:<\/p>\n \u201cWBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company. Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion.<\/p>\n We believe the WBD Board of Directors is pursuing an inferior proposal which exposes shareholders to a mix of cash and stock, an uncertain future trading value of the Global Networks linear cable business and a challenging regulatory approval process. We are taking our offer directly to shareholders to give them the opportunity to act in their own best interests and maximize the value of their shares.\u201d<\/p>\n Share<\/a><\/p>\n Updated at\u00a009.33 EST<\/p>\n Deal news: International Business Machines Corp. is buying the data-streaming platform Confluent.<\/p>\n IBM has agreed to pay $31 per share for Confluent, which values the company at $9.3bn, meaning the deal is worth $11bn once you include debt.<\/p>\n Confluent\u2019s platform is aimed at helping companies deploy generative AI and fraud detection applications. Shares in the company have jumped 28% in pre-market trading to $29.60.<\/p>\n Share<\/a><\/p>\n Moneyfacts has also spotted that the choice of low deposit mortgages is at its highest since 2008.<\/p>\n At the start of December, there were 476 products on the market for borrowers with a 5% deposit, and 917 deals for people with a 10% deposit.<\/p>\n Rachel Springall, finance expert at Moneyfacts, explains:<\/p>\n \u201cYear-on-year the mortgage market has seen an optimistic shift in the availability of products aimed at borrowers with a small deposit or equity, with almost 300 products added to the roster at 90% and 95% loan-to-value.<\/p>\n The volume of deals at these tiers now rests at their highest counts since March 2008. The Government has been very vocal that it wants lenders to do more to support buyers to boost UK growth, so any improvement in high loan-to-value deals should be celebrated as it gives borrowers more choice as competition ramps up.<\/p>\n Share<\/a><\/p>\n The Bank of England is planning to reduce its head count, Bloomberg reports.<\/p>\n It plans to cut staff numbers, they say, as the BoE\u2019s finances become strained by the cost of implementing the modernizations recommended by Ben Bernanke.<\/p>\n The UK central bank has invited employees to volunteer for potential layoffs, according to two people familiar with the matter. It will run \u201ca mutually agreed, time-limited scheme for staff to choose to apply to leave,\u201d the bank confirmed in a statement, adding that it had struck a deal for a 3% pay increase next year.<\/p>\n Share<\/a>“The first signs of a full-scale price war” for mortgages<\/p>\n Mortgage expert Nicholas Mendes of broker John Charcol says there are signs of a \u201cprice war\u201d in the home loans market:<\/p>\n Santander\u2019s move to 3.51 per cent has very clearly set the pace, and at the moment it is the standout cheapest option for borrowers taking \u00a3500,000 or more, once fees are factored in. Nationwide\u2019s 3.58 per cent sits just behind it, which shows how tight the spread has become at the top end of the market. This is textbook competitive positioning from the big lenders, and it signals a deliberate push to capture low-risk, high-equity borrowers before activity ramps up in the new year.<\/p>\n We\u2019re now seeing the first signs of a full-scale price war. NatWest and Barclays have both given notice of further reductions landing tomorrow, and the speed at which these updates are coming through tells you lenders want to be front of mind ahead of the next Bank of England decision. With swaps holding steady and market pricing pointing towards cheaper funding conditions, the high street is clearly preparing for stronger demand in early 2026.<\/p>\n Share<\/a><\/p>\n Updated at\u00a007.25 EST<\/p>\n Giant angry Magnum protests about ice-cream spin-off The co-founder of Ben & Jerry\u2019s has teamed up with a giant angry Magnum to protest against the spin off of Unilever\u2019s ice cream division today.<\/p>\n Ben Cohen, the co-founder of the Ben & Jerry\u2019s ice cream brand, said:<\/p>\n \u201cBen & Jerry\u2019s cannot thrive under the current corporate structure. If this continues, the brand will suffer.\u201d<\/p>\n As a protestor dressed as an angry version of the Magnum ice cream on a stick took to the streets outside the London Stock Exchange where the former Unilever division is listing this morning, Cohen said \u201ctens of thousands of people around the world will continue fighting for its future,\u201d under the new structure.<\/p>\n A giant angry Magnum protesting outside the London Stock Exchange Photograph: Shokirie Clarke<\/p>\n He added:<\/p>\n \u201cBen & Jerry\u2019s social mission has always been inseparable from the brand itself, no matter how much Unilever \/ Magnum have tried to distance the two. That mission is legally protected, yet Unilever \/ Magnum has relied on heavy-handed tactics to pressure the independent board and erode the principles that make Ben & Jerry\u2019s unique.<\/p>\n \u201cSpinning off the ice cream division doesn\u2019t change that. It\u2019s the same leadership, the same decision-makers, and the same attempt to step away from responsibilities they committed to decades ago.\u201d<\/p>\n![\"Sarah](\"https:\/\/www.newsbeep.com\/au\/wp-content\/uploads\/2025\/12\/Sarah_Butler_Next_Gen.png\")
Sarah Butler<\/p>\n