The bid for Warner Bros. Discovery continues ahead as more offers emerge. The most recent development comes from a high offer from Paramount Skydance, which Warner Bros. has since turned down.
Since Warner Bros. announced they’ll be shopping around for potential buyers, it’s been a back-and-forth between two major studios. Paramount is one of the parties involved, but the other interested party is Netflix. Both companies have put up high offers for the company, with Netflix even going as far to announce some of their plans, should one of their offers be accepted.
With a recent offer being rejected from Paramount, the ball could be back in Netflix’s court. Paramount’s most recent play involved the Warner Bros. shareholders, in hopes they could be swayed against Netflix with $30 per share.
However, the shareholders did not take to the offer. Variety reports that an overwhelming majority of 93% of shareholders turned Paramount down. This is the ninth offer tendered by Paramount, with Variety, thanks to their sources, that they won’t be offering more money than what’s already been put on the table.
“Once again, Paramount continues to make the same offer our Board has repeatedly and unanimously rejected in favor of a superior merger agreement with Netflix. It’s also clear our shareholders agree, with more than 93% also rejecting Paramount’s inferior scheme,” a statement from Warner Bros. read, clearly favoring Netflix’s offers.
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