파라마운트, 넷플릭스 제압 목표로 WBD 입찰가 상향
Paramount submits higher offer for Warner Bros Discovery in bid to block Netflix, source says
워너브라더스디스커버리(WBD)는 파라마운트의 상향 제안으로 넷플릭스와의 경쟁 입찰 구도가 형성됐고, 기존 주당 27.75달러 현금 제안이 하단을 지지해 단기적으로 인수가 상향 기대가 주가를 끌어올릴 가능성이 높습니다.
핵심 요약
파라마운트가 WBD 입찰가를 108.4억달러 이상으로 상향, 와브디는 2월23일 마감 임박한 재협상에서 금융 확약·디스커버리 스핀오프 가치가 핵심.
파라마운트 스카이댄스가 와너브러더스 디스커버리(WBD) 제안을 10%대 초반(108.4억 달러, 주당 30달러)보다 높은 수준으로 올린 것으로 알려지며 넷플릭스와의 인수전이 격화됐다. 와브디는 파라마운트의 기존 제안이 부족하다는 이유로 2월 23일까지 최종수정안을 요구했으며, 기존 협상안에는 28억 달러(2.8 billion) 종료 위약금과 분기당 25센트 지연 보전금이 포함될 수 있다는 점이 쟁점이다. 핵심 변수는 디스커버리 글로벌 분사 가치(주당 1.33~6.86달러)가 실제로 반영되느냐와 자금조달 확약의 신뢰성이다.
원문 링크: https://finance.yahoo.com/news/paramount-submits-higher-offer-warner-215448838.html?.tsrc=rss
Original Article
Paramount submits higher offer for Warner Bros Discovery in bid to block Netflix, source says
Feb 23 (Reuters) - Paramount Skydance submitted a higher offer for Warner Bros Discovery, a source familiar with the matter told Reuters on Monday, ratcheting up efforts to derail the HBO Max owner's deal with Netflix .
The bidding war for one of Hollywood's most coveted assets including the "Harry Potter" and "Game of Thrones" franchises has raised the stakes for dominance in the streaming-led market.
Paramount's new bid — which improves its initial offer of $108.4 billion, or $30 per share, for the whole company — seeks to address Warner Bros concerns about the certainty of its financing, the source said.
Reuters could not immediately determine how the bid was revised. Warner Bros and Paramount declined to comment, while Netflix could not immediately be reached.
Warner Bros' chosen suitor Netflix, which offered to buy the studios and streaming assets for $27.75 per share in cash, or $82.7 billion, is allowed to match the latest bid from David Ellison-led Paramount.
Netflix has ample cash and could bump up its offer for HBO Max owner, while Paramount's rival bid is backed by Oracle billionaire Larry Ellison.
The CBS parent was asked to submit its "best and final offer" after Warner Bros rejected an enhanced bid that included paying the $2.8 billion in termination fee to Netflix and adding a 25-cent per share quarterly "ticking fee" from next year to compensate Warner Bros shareholders for any delay in deal closure.
Warner Bros had said Paramount's February 10 offer still falls short of what its board would consider a superior proposal and gave a seven-day deadline until February 23 to submit a revised offer.
MoffettNathanson analysts had earlier said that an offer in the range of $34 per share from Paramount would end the bidding war and "avoid further debate over Discovery Global's value."
Warner Bros plans to spin off Discovery Global, which holds cable TV assets such as CNN and HGTV, could fetch between $1.33 and $6.86 a share, according to Warner Bros estimates.
Netflix said its offer gives Warner Bros shareholders added upside from the Discovery Global spinoff, which WBD argues will add value by giving the new company greater strategic, operational and financial flexibility.
However, Paramount has said the cable spinoff central to the streaming giant's offer is effectively worthless.
The David Zaslav-led Warner Bros came under pressure from Ancora Capital after the activist investor built a roughly $200 million stake in the HBO owner and accused the company of failing to adequately engage with Paramount.
Source: https://finance.yahoo.com/news/paramount-submits-higher-offer-warner-215448838.html?.tsrc=rss