Paramount submits higher offer for Warner Bros.

[BumRushDaShow]

Source: msn/Bloomberg

11h


(Bloomberg) -- Paramount Skydance Corp. raised its offer to buy Warner Bros. Discovery Inc., extending the long-running battle for one of Hollywood’s iconic studios, according to people familiar with the matter.

The new, unspecified bid improves on the $30-a-share, all-cash proposal that Paramount took directly to Warner Bros. shareholders on Dec. 8 and addresses some of the company’s concerns with previous Paramount bids, according to the people, who asked to not be identified because the details aren’t public. Those concerns include greater certainty of Paramount financing.

The media giant agreed in December to sell its film and TV studios and HBO business to Netflix Inc. for $27.75 a share. That deal involves a spinoff of Warner Bros. cable networks like CNN and TNT.

Warner Bros. reopened talks with Paramount for a seven-day period ending Monday. If the Warner Bros. board deems the new Paramount offer as superior to the current agreement, Netflix will have four days to respond.

Read more: https://www.msn.com/en-ph/money/companies/paramount-submits-higher-offer-for-warner-bros/ar-AA1WVe8l

[FarPoint]

1. I am rooting for Netflix winning the bid...

Netflix currently is better managed than CBS.

[OldBaldy1701E]

2. So, for those of you might be interested...

There is a book written by the VP of Desilu and the Associate Producer of the show 'Star Trek' called 'Inside Star Trek'.

In it, the VP, Herb Solow, talks about the day that Gulf Western, a corporate entity, bought Paramount and started managing the studio. Suffice to say, it was a clusterfuck because the corporate interests had no idea about the movie or TV industry and their corporate methods were at complete odds to the methodology of making good content. It finally made Solow quit Paramount because he could see the writing on the wall.

After reading about this, as well as a few other accounts of Paramount and their mentality, I am hoping that Netflix gets the whole enchilada.

Corporate mentality ruined Hollywood. It ruined the arts and it ruined the lives of many artists who were just that... artists... not corporate stooges who are far better at being greedy than creating art. The fact that one cannot even attempt to be an artist without also being a crack businessperson is just horrific.

(I cannot find a decent site to reference the book without trying to sell it to you. So, here is the one from the Star Trek site, Memory Alpha.)

https://memory-alpha.fandom.com/wiki/Inside_Star_Trek:_The_Real_Story

Bottom line: I don't trust Paramount. Which kind of hurts me to say.

[BumRushDaShow]

3. "Desilu"

Desi Arnaz and Lucille Ball had a good thing going until it got Paramounted.

I remember when that book came out after Roddenberry died.

Good Reads has a blip on it - https://www.goodreads.com/book/show/1138973.Inside_Star_Trek

I have a couple Star Trek Encyclopedias (and a million of the paperback and hardback novels covering the multiple series too).

I remember being out in L.A. on a training trip and that ended up being the week the Pope was there. So our training course had a day off in the middle of the week and I had to decide which studio to go to - Paramount or Universal (this was right before TNG came out). I ended up going to Universal.