Paramount Skydance Assembles Billionaires And Saudi Funds In Hostile Warner Bros Play

Benzinga

Paramount Skydance launched a hostile $30-per-share bid for Warner Bros. Discovery, topping Netflix’s offer and backed by massive financing from major banks and global sovereign funds. Trump briefly raised antitrust concerns, while Paramount said all foreign partners waived governance rights.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Paramount Skydance launched a hostile bid on Monday to buy all of Warner Bros. Discovery

00:08for $30 a share, positioning its offer against Netflix's $27.75 bid, according to Bloomberg.

00:15Bank of America, Citigroup, and Apollo lined up a $54 billion bridge loan,

00:20while Redbird Capital Partners and Larry Ellison agreed to backstop $40.7 billion of equity,

00:25alongside Saudi Arabia's public investment fund, the Qatar Investment Authority,

00:31Abu Dhabi's Limad Holding, and Jared Kushner's Affinity Partners.

00:35President Trump raised antitrust concerns and initially said he would be involved in the

00:39review before later downplaying his role and noting that neither company is close to him.

00:44Paramount told the Warner Bros. board that all foreign financing partners had agreed to forgo

00:48governance rights, and filings said Ellison's trust has resources exceeding its commitments.

00:53For all things money, visit Benzinga.com.

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