Paramount, Netflix and Hostile Bid
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Interviews with dozens of actors, producers and camera crews reveal an industry attempting to weigh the lesser of two horrible choices.
The eye-popping numbers led Late Show host Stephen Colbert to muse about the Paramount bid during his monologue Tuesday night. (Paramount owns CBS, which airs The Late Show. )
A high-stakes bidding war heated up this week when Paramount made a hostile takeover bid for Warner Bros. Discovery, challenging a multibillion-dollar Netflix deal to buy the entertainment juggernaut.
"Wow. I gotta say, if my company's got that kind of green, I'm sure they can afford to uncancel one of their best shows," the host said.
Hollywood has a rich history of personal vendettas, political discord and uncertain loyalties shaping the industry.
As Netflix and Paramount battle to buy Warner Bros. Discovery, Councilmember Konstantine Anthony requested that the City of Burbank enter into litigation to prevent the sale of the studios. The former mayor of Burbank issued a statement Thursday urging the city to intervene with the intent of “preserving jobs in the city.
Paramount sent a letter from CEO David Ellison addressed to Warner Bros. Discovery shareholders that 'clearly sets out why Paramount’s $30.00 per share all-cash offer to acquire all of WBD is superior to WBD’s transaction with Netflix.
President Donald Trump inserted himself directly into the battle for control of Warner Bros. Discovery on Wednesday, saying, “It’s imperative that CNN be sold,” while deriding the network’s news coverage.