Warner Bros. Rejects Paramount Bid
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Paramount’s announcement, taking its bid directly to WBD shareholders, comes after Netflix and Warner Bros. Discovery revealed their binding agreement Friday under which Netflix would buy Warner Bros.’s studio operations, HBO and HBO Max for $72 billion (with an enterprise value of $82.7 billion).
Affinity Partners had planned to back a bid by Paramount Skydance to acquire all the assets of media giant Warner Bros. Discovery.