Paramount is standing by its current proposal to acquire Warner Bros. Discovery, warning shareholders that embracing Netflix’s offer would saddle them with a “heavily indebted, sub-scale linear business.” The David Ellison-led media company conveyed its position in a press release Wednesday…

Warner Bros. Discovery today urged shareholders to reject Paramount’s hostile $108 billion takeover proposal, saying Netflix’s previously accepted offer remains superior. In a three-page letter, WBD laid out its concerns about a number of aspects of Paramount’s offer. One of its primary issues…

Local TV station owner E.W. Scripps said Tuesday that its board of directors has rejected an unsolicited takeover bid by larger rival Sinclair Inc. Scripps, whose assets also include the Ion broadcast network, said the board’s decision was unanimous. It followed Sinclair’s disclosure last month…

In a memo to employees divulged this morning in an SEC filing, Netflix Co-CEOs Greg Peters and Ted Sarandos call their pending $83B acquisition of Warner Bros. “a win for the entertainment business.” Wall Street, however, isn’t entirely convinced. One new report Monday from MoffettNathanson’s…

The spotlight is on crown jewels HBO, studios, the Warner Bros. film vault and DC Comics – but the fate of Warner Bros. Discovery could rest on the value of its much-maligned cable TV portfolio. Discovery Global Networks, the corporate division that houses CNN, Food Network, TNT and two dozen…

EXCLUSIVE: Steven Bartlett’s media company, FlightStory, is buying into fellow podcaster Maggie Sellers Reum’s business Hot Smart Rich (HSR) through a “seven-figure” investment. Terms of the deal haven’t been fully revealed and the size of the stake isn’t known, but the cash will go towards…

One veteran of the Washington regulatory trenches sees no major roadblocks ahead for Netflix’s acquisition of Warner Bros. “I think the deal gets done,” said Andrew Lipman, a regulatory policy expert and partner at Washington, D.C. law firm Morgan, Lewis & Bockius. Contrary to Paramount’s…

Nexstar CEO Perry Sook said he still fully expects the local TV giant’s pending deal to acquire rival Tegna will get approved despite some surprisingly adversarial comments recently by President Trump. The exec appeared Monday at the UBS Global Media and Communications Conference for a panel…

Netflix Co-CEO Ted Sarandos said Paramount’s hostile bid for Warner Bros. Discovery was “entirely expected,” but the exec said he remains “super-confident” in the streaming giant’s plan to close the deal. “Today’s move was entirely expected,” Sarandos said at a conference in New York hosted by…

Wall Street has begun rendering its verdict, at least in the short term, on Netflix’s $82.7 billion deal to acquire Warner Bros. As is typical with acquisitions, the stock of the buyer lost ground by mid-day Friday, slipping 3% to just below $100, while the party being (mostly) acquired, Warner…

Netflix believes one plus one will equal three when HBO joins its portfolio. Co-CEO Greg Peters said as much throughout a 45-minute conference call with Wall Street analysts about the company’s $82.7 billion acquisition of Warner Bros. Discovery’s studios-and-streaming division. “It’s quite…

Netflix Co-CEOs Ted Sarandos and Greg Peters sought to reassure investors Friday that their game-changing deal with Warner Bros. Discovery won’t become another media business fiasco. “A lot of those failures that we’ve seen historically is because the company that was doing the acquisition…