Warner Bros. Discovery says it's worried employees will quit if it picks Paramount's offer

Core Viewpoint - Warner Bros. Discovery (WBD) is concerned about potential employee departures if Paramount's Skydance successfully acquires the company over Netflix, which could lead to job insecurity among its workforce [1][2]. Group 1: Employee Concerns - WBD's board expressed that there may be significant employee and talent losses during the pre-closing period if Paramount's bid is selected over Netflix's [2]. - The board highlighted that the issue of employee retention has been a persistent concern, previously mentioned in a January filing [2]. Group 2: Financial Implications - Paramount has promised investors $6 billion in cost savings, which WBD's board believes would likely result from workforce reductions due to overlapping business operations [6]. - Netflix has indicated it expects to save between $2 billion and $3 billion if it acquires WBD's assets, primarily through reduced licensing costs rather than significant layoffs [7]. Group 3: Bidding Details - Netflix's bid stands at $27.75 per share for WBD's most valuable assets, while Paramount has proposed $30 per share for the entire company, including its cable networks [8]. - Both bids are all-cash offers, and the final decision may hinge on the valuation of WBD's TV networks and the extent of Paramount's willingness to increase its bid [8].