Warner Bros Discovery (WBD.O) accepted the proposal to purchase Paramount Skydance (PSKY.O) in a US$110 billion (around R$583 billion) deal concluded on Friday morning (27), the agency exclusively reported Reuters. An executive would have confirmed the operation according to an audio of a meeting obtained by the agency.
“Netflix had the legal right to match PSKY’s offer. As everyone knows, they ultimately decided not to do so. That resulted in a deal being signed with PSKY this morning. So, that’s the way things stand,” Bruce Campbell, Warner Bros. chief revenue and strategy officer, said at the meeting.
Netflix had announced on Thursday that it had dropped out of the dispute to acquire Warner Bros. Discovery (WBD) following the offer presented this week by rival Paramount Skydance (PSKY). The initial information is that Paramount offered a total of almost US$95 billion (approximately R$500 billion). This Friday, the final value of the deal was updated.
Paramount submitted a new offer for Warner this week, valued at $31 per share, in an attempt to compete with the sales agreement the legendary studio has with Netflix.
Paramount’s new offer was a response to Netflix’s proposal last December, part of a preliminary agreement to acquire WBD’s studios and streaming businesses for $27.75 per share, valuing those assets at approximately $72 billion, with a total enterprise value of around $82.7 billion.
