Next shoe in Netflix-WBD saga drops as Paramount launches hostile bid that includes Trump son-in-law Jared Kushner

Core Viewpoint - Paramount has launched a hostile all-cash bid for Warner Bros. Discovery (WBD) valued at $30 per share, positioning it as a superior alternative to Netflix's recent offer of $27.75 per share [1][3]. Group 1: Bid Details - The bid includes participation from Affinity Partners, led by Jared Kushner, and sovereign wealth funds from Saudi Arabia, Abu Dhabi, and Qatar [1]. - Affinity and other financing partners have agreed to forgo governance rights, which allows the transaction to avoid scrutiny from the Committee on Foreign Investment in the United States [2]. - Paramount's offer aims to acquire the entirety of WBD, including its Global Networks segment, unlike Netflix's deal which focuses on the studio and HBO Max [3]. Group 2: Competitive Positioning - Paramount argues that its offer provides a better value for WBD shareholders compared to Netflix's deal, which it claims is "inferior and uncertain" and may face a lengthy regulatory clearance process due to antitrust concerns [4][6]. - The company criticizes WBD's recommendation of the Netflix offer as based on an "illusory prospective valuation" and highlights the significant debt burden associated with Netflix's proposal, which includes $11 billion of debt and a $59 billion bridge loan [6]. Group 3: Leadership Statements - David Ellison, chairman and CEO of Paramount, emphasized that WBD shareholders deserve the chance to consider the all-cash offer, asserting that WBD has not engaged meaningfully with Paramount's previous proposals [7]. - Ellison expressed confidence that the proposed transaction would strengthen Hollywood, benefiting the creative community, consumers, and the movie theater industry through enhanced competition and increased content spending [8].