WB Rejects Paramount’s “Largest LBO In History”, What Are They Thinking?
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“The Board unanimously determined that the Paramount’s latest offer remains inferior to our merger agreement with Netflix across multiple key areas,” said WBD’s chair, Samuel A. Di Piazza, Jr. III esq.
WDB Cooper also reaffirmed their binding deal with Netflix meaning that ‘Warnet Broflix’ is looking more likely with every passing day.
And even though Paramount has the higher offer ($108 billion to Netflix’s 83), the WBoard says it’s “illusory”.
Firstly, Netflix would continue with WBD’s plan to lose the D and just be WB again. This way they can dump all their losing assets and dump a ton of debt. THIS WAS THE PLAN FROM THE START BEFORE EVERYONE EVEN OFFERED TO BUY THEM.
But Paramount want to buy the whole thing outright, loss, debt and two smoking barrels. Why? Who knows. Why don’t they change their offer to suit WB? Who knows. This is money people we’re talking about and if you claim you can understand Hollywood accounting then call me.
And the Warner Bros board see that debt retention as a bizarre move.
On top of that, Paramount’s offer is on shaky ground after Jared Kushner’s equity firm pulled out and with a consortium of Middle Eastern investors to plug the gap things have only gotten sheikhier.
“Paramount’s offer continues to provide insufficient value, including terms such as an extraordinary amount of debt financing that create risks to close and lack of protections for our shareholders if a transaction is not completed.”
So with Netflix WB on the horizon, here are the top 45 crossovers we want to see:
45: Harry Potter vs. Stranger Things
Let’s be honest, HP would DESTROY. Harry vs. Eleven. Vecna vs. Voldemort. Hagrid vs. Jim Hopper but he’s got a gun. It’s no contest. Avadaca-these-nutz. (that’s the tagline)
44: Emily In Westeros
It’ll be a charming, light hearted tour through the Seven Kingdoms. And at the end, Emily can get beheaded. What’s not to like?
43: Squid Game Squarepants
Watch Patrick Star fight for his life in a murderous obstacle course of doom. It’s ok because it’s a critique of capitalism!
(To see entires 42-1, please subscribe to Wall Street Memes Premium)
For more on this story, click here: Trump Is Backing Off The Paramount’s WB Bid, Here’s What That Means For Netflix
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