Dear MEL Topic Readers,
What is a hostile takeover bid?
Warner Bros. Discovery (WBD) is a multinational mass media and
entertainment conglomerate formed in April 2022 from the merger of WarnerMedia
and Discovery, Inc. It owns media brands including Discovery Channel, HBO,
CNN, DC Entertainment, Cartoon Network, the Max streaming service, and Warner
Bros, whose movie franchises include Harry Potter, The Lord of the Rings, Superman,
Badman, Monsterverse, and Barbie. Netflix, a subscription-based streaming
service giant, tried to acquire the WB studio and streaming assets of WBD in a
friendly fashion to expand its video content. After the acquisition was
announced, a surprise takeover bid was proposed by Paramount Skydance, whose
portfolio includes Mission Impossible, Star Trek, and Top Gun, as well as the CBS
network, Nickelodeon, MTV, and Paramount streaming service. While the Netflix-WBD
acquisition was discussed between the respective boards in a friendly fashion, Paramount’s
bid to acquire the entire WBD company was an unannounced direct offer to WBD’s
shareholders, called a hostile takeover bid. What are the differences between a
friendly acquisition and a hostile takeover?
Read the article and learn about what is going on around WBD.
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