Warner Bros. Discovery Rebuffed 3 Offers From Paramount
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"We have antitrust laws to put a stop to this kind of concentration. It is time we all sound the alarm bells and enforce the laws," the senator says
The company said it is exploring a potential sale of all or some of its media holdings, which include the Warner Bros. movie and television studios, HBO and cable networks including CNN and TNT.
Warner Bros. Discovery has rejected a $20-per-share takeover bid from Paramount Skydance, calling it “too low,” as industry consolidation and streaming competition intensify.
It’s no surprise that the significant value of our portfolio is receiving increased recognition by others in the market,” CEO David Zaslav said.
[CALIFORNIA] Warner Bros Discovery has rebuffed Paramount Skydance’s initial takeover approach for being too low, according to people familiar with the matter. Warner Bros rejected Paramount’s offer of around US$20 per share in recent weeks, the people said, asking not to be identified because the matter is private.