Paramount escalates hostile takeover of Warner Bros.
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A Democratic congressman is calling on Paramount to submit any acquisition of Warner Bros. Discovery to a foreign ownership review, even if the David Ellison-led company does not believe that it is technically required.
Paramount Skydance on Monday sued Warner Bros Discovery for more information on a rival $82.7 billion deal with Netflix , escalating a battle to take control of one of the most storied Hollywood studios.
The announcement was the latest in a series of increasingly aggressive actions by Paramount to buy Warner Bros.
Still, price remains a top concern for WBD, which has also suggested that it could get more for its cable channels if they were sold separately from its movie studios and HBO Max. A Paramount deal would force WBD to stop working on the spinoff, which could be problematic if the merger fell apart.
Nine-time Emmy nominee Issa Rae is the latest talent creator to be signed by the David Ellison-run Paramount, inking a three-year first-look film and TV production deal. The deal follows Paramount pacts with the Duffer Brothers and Will Smith among others.
Netflix is readying a revised offer — in all cash — to acquire Warner Bros. Discovery’s streaming and studios businesses, according to a report by the Wall Street Journal. Under the terms of Netflix’s original agreement,