Paramount CEO says Warner Bros tie-up to carry $79 billion net debt, no cable asset sales planned

Core Viewpoint - Paramount's acquisition of Warner Bros will result in a combined net debt of approximately $79 billion, with no plans for divesting cable assets at this time [1] Company Overview - Paramount finalized a $100 billion bid for Warner Bros, offering $31 per share after Netflix declined to increase its offer [1] - The merger will create a company with a vast library of intellectual property, including franchises like "Game of Thrones," "Mission Impossible," and "Harry Potter" [1] - The deal is expected to enhance Paramount's streaming capabilities, allowing it to compete more effectively against Netflix [1] Financial Details - Paramount's offer is fully financed, comprising $47 billion in equity from the Ellison Family and RedBird Capital Partners, along with $54 billion in debt commitments from Bank of America, Citigroup, and Apollo [1] - Paramount paid a $2.8 billion termination fee to Warner Bros for its prior agreement with Netflix [1] - The termination fee that Paramount would pay if the deal fails to gain regulatory approval has been raised to $7 billion from $5.8 billion [1] Regulatory Environment - The deal is anticipated to receive European Union antitrust approval with minor divestments likely required [1] - California State Attorney General Rob Bonta is investigating the deal, indicating a rigorous review process [1] - Concerns have been raised regarding potential job losses and reduced film output as a result of the merger [1]