Paramount Skydance launches hostile bid for WBD after Netflix wins bidding war

Core Viewpoint - Paramount Skydance is making a hostile bid to acquire Warner Bros. Discovery after losing a bidding war to Netflix for legacy assets [1][4]. Group 1: Bid Details - Paramount is offering an all-cash bid of $30 per share to WBD shareholders, which was previously rejected by WBD [2]. - The bid is supported by equity financing from the Ellison family and RedBird Capital, along with $54 billion in debt commitments from Bank of America, Citi, and Apollo Global Management [2]. Group 2: Market Reactions - Shares of Paramount increased by approximately 3% in premarket trading, while shares of Warner Bros. Discovery rose about 5% [3]. Group 3: Competitive Landscape - Netflix announced a deal to acquire WBD's studio and streaming assets for $72 billion, which has raised antitrust concerns due to the potential combination of two dominant streaming platforms [4][6]. - Comcast has also shown interest in bidding for WBD's streaming and studio businesses [4]. Group 4: Regulatory Considerations - Paramount executives believe their deal will face a shorter regulatory approval process due to the company's smaller size and favorable relationship with the Trump administration [5].