Netflix\u2019s bid<\/a>, which values Warner Bros. studios at nearly US$83b, \u201cinferior and uncertain\u201d.<\/p>\n\u201cWBD shareholders deserve an opportunity to consider our superior all-cash offer,\u201d Ellison said.<\/p>\n
Netflix declined a request for comment from AFP.<\/p>\n
\u2018Far from over\u2019<\/p>\n
\u201cThe Warner Bros. Discovery acquisition is far from over,\u201d said analyst Emarketer analyst Ross Benes.<\/p>\n
\u201cNetflix is in the driver\u2019s seat but there will be twists and turns before the finish line… The battle could become prolonged.\u201d<\/p>\n
Over the decades, Warner Brothers has produced film classics including Casablanca and Citizen Kane, as well as more recent blockbuster shows including Friends, Game of Thrones and the Harry Potter movies.<\/p>\n
Paramount argued its deal provides greater regulatory certainty than the Netflix transaction, which it said would give Netflix a 43% share of global streaming subscribers and face \u201cprotracted regulatory challenges across the world\u201d.<\/p>\n
The combined company would unite Paramount\u2019s portfolio \u2013 including Paramount Pictures, CBS, Nickelodeon and streaming site Paramount+ -\u2013 with WBD\u2019s assets including HBO Max and major sports rights.<\/p>\n
Paramount said the merger would generate over US$6b in cost savings while maintaining theatrical releases and increasing content spending.<\/p>\n
Keeping movies in theatres is a very sensitive issue for the creative industry in Hollywood.<\/p>\n
Netflix is already viewed negatively in some Hollywood circles, largely because of its reluctance to release content in theatres and its disruption of the industry.<\/p>\n
Many veterans consider theatrical releases essential to cinema\u2019s appeal and prestige, and also integral to maintaining Hollywood jobs and a vibrant economy.<\/p>\n
Warner Bros. Discovery\u2019s share price skyrocketed by more than 7% on Monday while shares in Netflix fell by over 2%.<\/p>\n
– Agence France-Presse<\/p>\n","protected":false},"excerpt":{"rendered":"Unlike Netflix\u2019s offer, Paramount\u2019s latest bid includes the buyout of cable channels such as CNN, TNT, TBS and…\n","protected":false},"author":2,"featured_media":174075,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[104317,62148,112009,696,5432,1040,2748,138,23159,112008,3468,2026,2082,46613,1743,1094,111,139,69,13692,421,13910,2122,87980,112010,36314,102],"class_list":["post-174074","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-104317","tag-acquire","tag-allcash","tag-announced","tag-between","tag-bid","tag-bros","tag-business","tag-challenging","tag-counters","tag-deal","tag-discovery","tag-for","tag-hostile","tag-launched","tag-netflix","tag-new-zealand","tag-newzealand","tag-nz","tag-offer","tag-paramount","tag-previously","tag-share","tag-tender","tag-us30","tag-warner","tag-with"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/174074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=174074"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/174074\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/174075"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=174074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=174074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=174074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}