The David Ellison-led company filed a lawsuit looking to force Warners into showing its work on how it determined Netflix's offer was better than its own.
Netflix, Inc. is an American subscription streaming service and production company. Launched on August 29, 1997, it offers a library of films and television series through distribution deals as well as its own productions, known as Netflix Originals.
The David Ellison-led company filed a lawsuit looking to force Warners into showing its work on how it determined Netflix's offer was better than its own.
Paramount released a revised tender offer last month, with Larry Ellison agreeing to personally backstop the deal. WBD says the offer would be 'the largest LBO in history.'
Warner earlier recommended that shareholders reject Paramount’s $30-per-share bid for all of the company
Warner raised concerns about the credibility of Paramount’s “illusory” offer and its backing from the Ellison family.
Ted Sarandos and Greg Peters moved to quell industry concerns about job losses in a letter to employees.
One firm needs scale, the other ideas
Cinema owners oppose a megadeal that would see one of the last Hollywood legacy studios snapped up only five years after the demise of 20th Century Fox: "We have fixed costs."
Warner Bros. board will consider Paramount's offer, but advises company to 'take no action at this time'
The offer to shareholders comes days after Warner Bros. agreed to sell its streaming and studio business to Netflix.
Taking over Hollywood’s biggest studio would transform streaming giant’s business model, at a steep price
If the deal goes through, an algorithm-powered streaming titan would gobble up a 102-year-old movie studio synonymous with the romance of old Hollywood.
White House officials and the Justice Department are already scrutinizing the streaming company’s $72 billion deal for Warner Bros.
If approved by Trump administration regulators, the deal would lead to a new entertainment and technology behemoth.