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.
Comments