Losing track of how many times WarnerDiscovery has told ParamountSkydance to fuck off, this has to be the third or fourth since the media conglomerate put itself up for sale and convicted felon President Trump commanded his minions Larry and David Ellison to seize it and MAGAfy CNN. This time Axios reports that even with Ellison Sr’s “irrevocable personal guarantee of $40.4 billion of the equity financing,” WB rejected the $30/share bid due to the “extraordinary amount of incremental debt” that Paramount would incur and that Netflix’s $27.75 cash/stock bid was simply better.
“This aggressive transaction structure poses materially more risk for WBD and its shareholders when compared to the [conventional structure of the] Netflix merger,” the board wrote. Keep in mind that even though Trump talked a lot of shit about blocking Netflix from taking over Warner Bros’s entertainment assets (CNN is not part of the deal and would be spun off along with other cable networks, including TNT, TBS, Discovery Channel, etc) there’s really no legal standing for the regime to get in the way since it does not involve any assets within the FCC’s jurisdiction. The most he can do really is just slow it down in court and the fact that he opened his fat fucking mouth about the merger simply makes Netflix’s legal team’s job getting a judge to toss a DOJ antitrust lawsuit easier.