Paramount Skydance said they are making a bid to buy Warner Bros after Netflix offered a buyout plan worth $72 billion.
Paramount said on Monday they are going to go direct to Warner Bros shareholders with a $30 per share in a cash offer to buy all of Warner Bros Discovery and all global networks if they reject the Netflix deal.
On Friday Netflix said they have done a deal to buy Warner Bros and offered $27.25 per share and on top of this they are offering a $5.8 billion reverse breakup fee should regulators not accept the deal.
The US President Donald Trump said on Sunday that the Netflix deal “could be a problem” due to the size of the combined market share.
Trump said that ““Netflix is a great company. They’ve done a phenomenal job. Ted is a fantastic man,” referring to the CEO Ted Sarandos.
Trump added, “I have a lot of respect for him, but it’s a lot of market share, so we’ll have to see what happens.”
Trump was asked if Netflix should be allowed to by Warner Bros, he said, “Well, that’s the question.
“They have a very big market share and when they have Warner Bros, you know, that share goes up a lot so, I don’t know.
“I’ll be involved in that decision, too. But they have a very big market share.”
