Discovery, Paramount and Warner Bros
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The David Ellison-led studio questions whether the bidding has been "tilted" and suggests Netflix has been receiving more favorable treatment so far in the auction.
Paramount Skydance has raised the proposed breakup fee in its bid to acquire Warner Bros Discovery to $5 billion from $2.1 billion, Bloomberg News reported on Wednesday, citing people familiar with the offer.
A breakdown of the regulatory challenges facing Netflix, Paramount and Comcast as they pursue Warner Bros. Discovery.
Attorneys for the David Ellison-run studio say rival bidders "face grave uncertainty and significant opposition" from regulatory oversight in the U.S. and abroad.
Netflix touted the deal in a press release. “Today, Netflix, Inc. (the Company) and Warner Bros. Discovery, Inc. (WBD) announced they have entered into a definitive agreement under which Netflix will acquire Warner Bros., including its film and television studios, HBO Max and HBO,” Netflix wrote on December 5.
Just days before Netflix emerged as the highest bidder, Paramount tore into the "myopic process" that had become "tainted."