Joining us right now is Rich Greenfield, Lightshed Partners. Uh you've probably now had some opportunity to go through uh the document that Warner Brothers put out. You've seen what Netflix had to say about it.Which in your mind is the better deal, Rich. Putting aside whether we get to a bidding war, which I'm sure we will, but or or we may at least right now. >> I mean, I don't even think it's close, Andrew.I mean, think about the things that you learned in this document. I mean, just right off the bat, th ...

Um, all right. Great. Yeah, you can see him right here.Sam, thanks for coming down. >> Thank you, David. >> Samia is the chairman of Warner Brothers, of course, leads the board of directors.We're going through the filing right now. It's quite voluminous. >> It is.>> Um, but we were talk and um I guess I want to start on on really what is Becky's question as well, which is around this financing question, if I could term it that way, uh, that the board had. Can you explain why you would not trust that one of ...

Warner Bros. Urges Shareholders To Reject Paramount’s Hostile Takeover Bid—Netflix Shares Up In Premarkethttps://t.co/JiWGRFSMUT https://t.co/ybSTnFQjHX ...

Faber joins us right now from the New York Stock Exchange. He has that news. Good morning, David. >> Good morning, Becky.We've been waiting for the response, so to speak, from Warner Brothers Discovery to that tender offer we got more than a week ago from Paramount to acquire Warner Brothers for $30 a share in cash, and we've gotten it this morning. It's a 14D9 filing. It is, as you might imagine, voluminous.Uh that said, um the key points are ones we've been making. And of course, the lead is no thank you, ...

Core Viewpoint - Warner Bros. is advising shareholders to reject Paramount Skydance's takeover bid, asserting that a competing offer from Netflix would provide better value for customers [1]. Group 1: Warner Bros. Position - Warner Bros. believes that a partnership with Netflix will enhance consumer choice and value, allowing for greater audience reach and long-term growth due to Netflix's extensive portfolio and studio capabilities [2]. - The board of Warner Bros. favors the Netflix deal over Paramount's hostile bid, which offers $30 per share compared to Netflix's $27.75 [3]. Group 2: Takeover Bid Details - Paramount's bid remains active, and shareholders can still choose to accept it despite the board's preference for Netflix [3]. - Unlike Netflix's offer, Paramount's bid includes the acquisition of Warner's cable operations, which would significantly alter the media landscape [4]. Group 3: Regulatory and Industry Impact - Both bids are subject to regulatory scrutiny, as a change in ownership at Warner could reshape the entertainment and media industry, affecting film production and streaming platforms [5]. - Critics express concerns that a merger with Netflix could lead to market dominance, particularly with HBO Max, while Paramount+ is comparatively smaller [5]. - The potential acquisition by Paramount could raise issues regarding editorial control, especially in light of recent media consolidations [7].

Group 1 - OpenAI is in discussions to raise at least $10 billion from Amazon, potentially valuing the company at over $500 billion and adopting Amazon's Tranium chip [1][2] - Whimo, the self-driving car company owned by Alphabet, is planning to raise $15 billion in funding, aiming for a valuation of up to $110 billion [2] - Warner Brothers Discovery intends to recommend its shareholders reject Paramount's hostile takeover offer and support its existing deal with Netflix [3] Group 2 - Spirit Airlines has revived merger talks with Frontier Airlines, with a potential deal announcement expected soon [4] - Robinhood has introduced new prediction market features for users to place bets on NFL games, positioning itself against traditional sportsbooks [5] - Medline has priced its IPO at $29 per share, raising $6.3 billion, making it the largest offering of the year and giving it a valuation exceeding $50 billion [5][6]

Core Viewpoint - Warner Bros. Discovery's board has unanimously rejected Paramount's $108 billion hostile bid, citing concerns over the financial backing from the Ellison family and the overall risks associated with the deal [5][7][8]. Group 1: Warner Bros. Discovery's Position - Warner's board reaffirmed support for Netflix's $27.75 per share proposal, stating it is the best deal for shareholders and urged investors not to tender shares to Paramount [2]. - The board expressed that Paramount's proposal contained "gaps, loopholes and limitations," including the ability for Paramount to amend the offer [1]. - Warner's board criticized Paramount for failing to provide a solid financial commitment from the Ellison family, which they deemed necessary for the deal [6][17]. Group 2: Paramount's Offer and Strategy - Paramount's proposal includes a cash offer of $30 per share, valuing the entire company at $78 billion, and it plans to absorb Warner's debt, bringing the total deal value to $108 billion [4][10]. - David Ellison, Paramount's CEO, has argued that their offer provides superior value and certainty compared to Netflix's bid, emphasizing the backing from the Ellison family [11][19]. - Paramount disclosed plans to rely on $24 billion from sovereign wealth funds and $11.8 billion from the Ellison family for the equity portion of the deal, alongside needing over $60 billion in debt financing [13][14]. Group 3: Market Reactions and Implications - Netflix shares rose by approximately 0.25% to $94.79, while Warner Bros. Discovery closed at $28.21 and Paramount at $13.10 [1]. - The Warner board noted that the ultimate decision regarding the bids rests with its shareholders, indicating that the situation remains fluid [20]. - Paramount has made six offers for Warner Bros., with the most recent proposal lacking a clear commitment from the Ellison family [15].

Warner Bros. Discovery is advising its shareholders to reject a hostile takeover bid by Paramount in favor of its original agreement with streaming giant Netflix https://t.co/iV8hNqVjDw ...

Warner Bros. Discovery advises shareholders to reject Paramount's hostile takeover bid.https://t.co/xt1v5BXrC6 ...

Warner Bros. Discovery advises shareholders to reject Paramount's hostile takeover bid.https://t.co/VTbRnnNlIP ...