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(Corrects to remove extraneous text in paragraph 5, corrects spelling of Cavanagh in paragraph 14) By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets. But Paramount's latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly.  Paramount's $30-per-share cash offer includes financing from Affinity Partners, the investment firm run by Jared Kushner, U.S. President Donald Trump's son-in-law, and several Middle Eastern government-run investment funds, and is backstopped by the Ellison family. Larry Ellison, the world's second-richest person, is the father of Paramount head David Ellison and has close ties to the White House.  The studio argues its bid for the entirety of Warner Bros Discovery is superior to Netflix's bid, providing shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that Paramount-Warner Bros combination would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition.  "We believe our offer will create a stronger Hollywood," Paramount CEO David Ellison said in a statement.   Paramount's bid includes Warner Bros Discovery's cable television properties; Netflix's bid is limited to the Warner Bros film and television studios, HBO and the HBO Max streaming service. Analysts noted that Paramount's offer comes with its own antitrust scrutiny as a consolidation of two major television operators. Last month, Democratic senators warned that such a transaction would result in "one company controlling almost everything Americans watch on TV." The combined studio would also have a greater market share than current leader Walt Disney Co, and add to fears of consolidation that have hit the industry hard in recent years.  The offer represents a 139% premium over the company's undisturbed stock price, and bests Netflix's $27.75 offer that mixes cash and stock. KUSHNER, SAUDIS PART OF PARAMOUNT OFFER Warner Bros Discovery and Netflix did not immediately respond to requests for comment on Paramount's deal. In a regulatory filing, Paramount said that the Ellison family, which owns Paramount, along with private equity firm RedBird Capital, had agreed to backstop $40.7 billion in equity capital. The offer also includes financing from Kushner's Affinity Partners, the Saudi and Qatari sovereign wealth funds, and L'imad Holding Co, owned by the government of Abu Dhabi. Netflix's offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers. "While it is perhaps a sad commentary on the U.S. that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival," said Chris Beauchamp, chief market analyst at UK-based IG Group.  Shares of Paramount were up 7.7% on Monday. Warner Bros Discovery rose 5%, while Netflix shares fell 4.5%. One company that appears to be out of the running is NBCUniversal parent Comcast, whose president Mike Cavanagh said the company was not interested in taking its balance sheet to "any stressful level" to buy Warner Bros. TWISTS AND TURNS Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing.  Paramount maintained that it would be a champion of Hollywood and its talent, would remain committed to releasing movies in theaters, and that its path to regulatory approval would be faster than Netflix's. "Our proposal is superior to Netflix's in every dimension, higher headline value, increased certainty in that value, greater regulatory certainty, and a pro-Hollywood, pro-consumer and pro-competition future," said Ellison. In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros "never engaged meaningfully" with these proposals. "The Warner Bros Discovery acquisition is far from over," said eMarketer senior analyst Ross Benes. "Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged." Paramount has argued the combination of its Paramount+ streaming service with Warner Bros' HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney's Disney+.  'BIAS AGAINST US' The company said it had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner.  That followed reports that Warner Bros' management called the Netflix deal a "slam dunk" while speaking negatively about Paramount's offer.  In an interview with CNBC on Monday, Paramount CEO David Ellison said there was an "inherent bias" in the bidding. Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. In his CNBC interview Monday, Ellison said he had "great conversations" with Trump, but did not characterize the discussions. Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is "highly confident" in the regulatory process.  (Reporting by Dawn Chmielewski in Los Angeles, Harshita Mary Varghese and Aditya Soni in Bengaluru; Additional reporting by Milana Vinn and Jody Godoy in New York and Jaspreet Singh in Bengaluru; Editing by David Gaffen, Arun Koyyur and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets. But Paramount's latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly.  Paramount's $30-per-share cash offer includes financing from Affinity Partners, the investment firm run by Jared Kushner, U.S. President Donald Trump's son-in-law, and several Middle Eastern government-run investment funds, and is backstopped by the Ellison family. Larry Ellison, the world's second-richest person, is the father of Paramount head David Ellison and has close ties to the White House.  The studio argues its bid for the entirety of Warner Bros Discovery is superior to Netflix, giving shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that a Paramount-Warner Bros combination, which would be among the largest media deals in history, would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition.  "We believe our offer will create a stronger Hollywood," Paramount CEO David Ellison said in a statement.   Paramount's bid includes Warner Bros Discovery's cable television properties; Netflix's bid is limited to the Warner Bros film and television studios, HBO and the HBO Max streaming service. Analysts noted that Paramount's offer comes with its own antitrust scrutiny as a consolidation of two major television operators. Last month, Democratic senators warned that such a transaction would result in "one company controlling almost everything Americans watch on TV." The combined studio would also have a greater market share than current leader Walt Disney Co, and add to fears of consolidation that have hit the industry hard in recent years.  The offer represents a 139% premium over the company's undisturbed stock price, and bests Netflix's $27.75 offer that mixes cash and stock. KUSHNER, SAUDIS PART OF PARAMOUNT OFFER Warner Bros Discovery and Netflix did not immediately respond to requests for comment on Paramount's deal. In a regulatory filing, Paramount said that the Ellison family, which owns Paramount, along with private equity firm RedBird Capital, had agreed to backstop $40.7 billion in equity capital. The offer also includes financing from Kushner's Affinity Partners, the Saudi and Qatari sovereign wealth funds, and L'imad Holding Co, owned by the government of Abu Dhabi. Netflix's offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers. "While it is perhaps a sad commentary on the U.S. that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival," said Chris Beauchamp, chief market analyst at UK-based IG Group.  Shares of Paramount were up 10% on Monday. Warner Bros Discovery rose 3.8%, while Netflix shares fell 4.2%. One company that appears to be out of the running is NBCUniversal parent Comcast, whose president Mike Cavanagh said the company was not interested in taking its balance sheet to "any stressful level" to buy Warner Bros. TWISTS AND TURNS Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing.  Paramount maintained that it would be a champion of Hollywood and its talent, would remain committed to releasing movies in theaters, and that its path to regulatory approval would be faster than Netflix's. "Our proposal is superior to Netflix's in every dimension, higher headline value, increased certainty in that value, greater regulatory certainty, and a pro-Hollywood, pro-consumer and pro-competition future," said Ellison. In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros "never engaged meaningfully" with these proposals. "The Warner Bros Discovery acquisition is far from over," said eMarketer senior analyst Ross Benes. "Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged." Paramount has argued the combination of its Paramount+ streaming service with Warner Bros' HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney's Disney+.  'BIAS AGAINST US' The company said it had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner.  That followed reports that Warner Bros' management called the Netflix deal a "slam dunk" while speaking negatively about Paramount's offer.  In an interview with CNBC on Monday, Paramount CEO David Ellison said there was an "inherent bias" in the bidding. Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. In his CNBC interview Monday, Ellison said he had "great conversations" with Trump, but did not characterize the discussions. Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is "highly confident" in the regulatory process.  (Reporting by Dawn Chmielewski in Los Angeles, Harshita Mary Varghese and Aditya Soni in Bengaluru; Additional reporting by Milana Vinn and Jody Godoy in New York and Jaspreet Singh in Bengaluru; Editing by David Gaffen, Arun Koyyur and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets. But Paramount's latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly.  Paramount argued that its $30-per-share, all-cash offer for the entirety of Warner Bros Discovery is superior to Netflix's bid, providing shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that the combination of Paramount and Warner Bros would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition.  "We believe our offer will create a stronger Hollywood," Paramount CEO David Ellison said in a statement.  However, analysts noted that Paramount's offer comes with its own risks, including additional debt needed to make the transaction work. A Paramount-Warner Bros combination would boost its dominant position in the studio business, giving it a greater market share than current leader Walt Disney Co, and add to fears of consolidation that have hit the industry hard in recent years.  KUSHNER, SAUDIS PART OF PARAMOUNT OFFER Warner Bros Discovery and Netflix did not immediately respond to requests for comments on Paramount's deal. In a regulatory filing, Paramount said that the Ellison family, which owns Paramount, along with private equity firm RedBird, had agreed to backstop $40.7 billion in equity capital. The offer also includes financing from Affinity Partners, run by President Trump's son-in-law Jared Kushner; other financing comes from the Saudi and Qatari sovereign wealth funds and L'imad Holding Co, owned by the government of Abu Dhabi. Netflix's offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers. Shares of Paramount were up 6.8% on Monday. Warner Bros Discovery rose 5.5%, while Netflix shares fell 4%. TWISTS AND TURNS Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing.  Paramount maintained that it would be a champion of Hollywood and its talent, would remain committed to releasing movies in theaters, and that its path to regulatory approval would be faster than Netflix's. "Our proposal is superior to Netflix's in every dimension, higher headline value, increased certainty in that value, greater regulatory certainty, and a pro-Hollywood, pro-consumer and pro-competition future," said Ellison. In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros "never engaged meaningfully" with these proposals. The $30 cash offer represents a 139% premium over the company's undisturbed stock price, and bests Netflix's $27.75 offer that mixes cash and stock. "The Warner Bros Discovery acquisition is far from over. Netflix is in the driver's seat but there will be twists and turns before the finish line. Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged," said eMarketer senior analyst Ross Benes. Paramount has argued the combination of its Paramount+ streaming service with Warner Bros' HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney's Disney+ – offering consumers more choice.  Warner Bros' television networks, which include CNN and TNT, would be in a stronger position, when united with Paramount's television portfolio, the studio argued.  It had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner.  That followed reports that Warner Bros' management called the Netflix deal a "slam dunk" while speaking negatively about Paramount's offer.  'BIAS AGAINST US' In an interview with CNBC on Monday, Paramount CEO David Ellison said there is an "inherent bias" against his company in the bidding. Some analysts and industry experts see Paramount as the best candidate for acquiring Warner Bros, given Ellison's deep pockets – backed by his father, Oracle co-founder and the world's second-richest person, Larry Ellison, who has close ties with the Trump administration. Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. In his CNBC interview Monday, Ellison said he had "great conversations" with Trump, but did not characterize the discussions. "While it is perhaps a sad commentary on the U.S. that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival," said Chris Beauchamp, chief market analyst at UK-based IG Group. The combined company will have substantial overlap and its combined streaming revenue would decline unless Netflix doubles its prices or runs separate platforms, neither of which the brokerage expects, Morningstar analysts have said.  Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is "highly confident" in the regulatory process.  (Reporting by Harshita Mary Varghese and Aditya Soni in Bengaluru; Editing by Arun Koyyur and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Lisa Richwine and Danielle Broadway LOS ANGELES, Dec 8 (Reuters) – Dark comedy "One Battle After Another" racked up a leading nine Golden Globe nominations on Monday, positioning the Leonardo DiCaprio thriller as an early favorite on Hollywood's road to the Academy Awards. The movie directed by Paul Thomas Anderson stars DiCaprio as a washed-up revolutionary who springs into action when his daughter's life is in danger. The Warner Bros film will compete in the best movie musical or comedy category against "Marty Supreme" and "Bugonia," among others.  Norwegian family drama "Sentimental Value" claimed eight nominations, just ahead of supernatural horror film "Sinners" with seven. Both were nominated for the movie drama prize alongside Guillermo del Toro's take on "Frankenstein" and "Hamnet," a story about the family of William Shakespeare. "'Frankenstein' is a film I have been wanting to make for as long as I can remember, and to have it embraced in this way means so much to me," del Toro said in a statement. Acting nominees included DiCaprio and "One Battle" co-stars Benicio Del Toro, Sean Penn, Chase Infiniti and Teyana Taylor, who said the nominations left her "speechless and teary-eyed."  George Clooney and Adam Sandler received nods for "Jay Kelly," as did Dwayne Johnson for "The Smashing Machine" and Jessie Buckley for "Hamnet."  Ariana Grande and Cynthia Erivo earned nominations for their roles in "Wicked: For Good," though the second part of Universal Pictures' "The Wizard of Oz" prequel failed to make it into the musical or comedy field. The Globes are among first Hollywood accolades to be handed out before the film industry's top honors, the Oscars, in March. The Globes telecast is scheduled for Jan. 11. INTERNATIONAL FILMS RECOGNIZED Voters for the Globes are entertainment journalists from around the world. Their choices this year reflected their affection for films made outside of Hollywood, said Debra Birnbaum, editor of awards website Gold Derby. Beyond "Sentimental Value," they nominated revenge thriller "It Was Just an Accident" from Iranian director Jafar Panahi and Brazilian drama "The Secret Agent." "The biggest surprise over everything is the big showing for all the international films," Birnbaum said. "I think those are the films we're going to be watching, not just at the Golden Globes, but throughout all the film (awards) season." In a new podcast category, Globes voters nominated "Armchair Expert with Dax Shepard," "Call Her Daddy," "Good Hang with Amy Poehler," "The Mel Robbins Podcast," "Smartless" and National Public Radio's "Up First." HBO's vacation mystery "The White Lotus" led TV categories with six nominations, ahead of Netflix limited series "Adolescence" about a 13-year-old accused of murder.  Netflix, the streaming pioneer attempting to remake Hollywood by purchasing TV, film and streaming assets including HBO from Warner Bros Discovery, outpaced all networks with 22 nominations in television categories. Paramount Skydance made a hostile bid for Warner Bros Discovery on Monday. Independent distributor Neon, the studio behind "Sentimental Value," "It Was Just an Accident" and "The Secret Agent," landed the most film nominations with 21.  Globe winners are chosen by more than 300 entertainment journalists, compared with roughly 9,000 voters who select the Oscars. The Globes voting body was expanded in recent years and organizers instituted reforms after criticisms for ethical lapses and a lack of diversity.     Comedian Nikki Glaser will return to host the Globes ceremony for a second time. The show will be broadcast live on CBS and streamed on Paramount+. (Reporting by Lisa Richwine and Danielle Broadway;Editing by Bernadette Baum and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets. But Paramount's latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly.  Paramount's $30-per-share cash offer includes financing from Affinity Partners, the investment firm run by Jared Kushner, U.S. President Donald Trump's son-in-law, and several Middle Eastern government-run investment funds, and is backstopped by the Ellison family. Larry Ellison, the world's second-richest person, is the father of Paramount head David Ellison and has close ties to the White House.  The studio argues its bid for the entirety of Warner Bros Discovery is superior to Netflix's bid, providing shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that Paramount-Warner Bros combination would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition.  "We believe our offer will create a stronger Hollywood," Paramount CEO David Ellison said in a statement. Ellison said on several occasions on Monday  Paramount's bid includes Warner Bros Discovery's cable television properties; Netflix's bid is limited to the Warner Bros film and television studios, HBO and the HBO Max streaming service. Analysts noted that Paramount's offer comes with its own antitrust scrutiny as a consolidation of two major television operators. Last month, Democratic senators warned that such a transaction would result in "one company controlling almost everything Americans watch on TV." The combined studio would also have a greater market share than current leader Walt Disney Co, and add to fears of consolidation that have hit the industry hard in recent years.  The offer represents a 139% premium over the company's undisturbed stock price, and bests Netflix's $27.75 offer that mixes cash and stock. KUSHNER, SAUDIS PART OF PARAMOUNT OFFER Warner Bros Discovery and Netflix did not immediately respond to requests for comments on Paramount's deal. In a regulatory filing, Paramount said that the Ellison family, which owns Paramount, along with private equity firm RedBird Capital, had agreed to backstop $40.7 billion in equity capital. The offer also includes financing from Kushner's Affinity Partners, the Saudi and Qatari sovereign wealth funds, and L'imad Holding Co, owned by the government of Abu Dhabi. Netflix's offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers. "While it is perhaps a sad commentary on the U.S. that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival," said Chris Beauchamp, chief market analyst at UK-based IG Group.  Shares of Paramount were up 7.7% on Monday. Warner Bros Discovery rose 5%, while Netflix shares fell 4.5%. One company that appears to be out of the running is NBCUniversal parent Comcast, whose president Mike Cavanaugh said the company was not interested in taking its balance sheet to "any stressful level" to buy Warner Bros. TWISTS AND TURNS Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing.  Paramount maintained that it would be a champion of Hollywood and its talent, would remain committed to releasing movies in theaters, and that its path to regulatory approval would be faster than Netflix's. "Our proposal is superior to Netflix's in every dimension, higher headline value, increased certainty in that value, greater regulatory certainty, and a pro-Hollywood, pro-consumer and pro-competition future," said Ellison. In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros "never engaged meaningfully" with these proposals. "The Warner Bros Discovery acquisition is far from over," said eMarketer senior analyst Ross Benes. "Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged." Paramount has argued the combination of its Paramount+ streaming service with Warner Bros' HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney's Disney+.  'BIAS AGAINST US' The company said it had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner.  That followed reports that Warner Bros' management called the Netflix deal a "slam dunk" while speaking negatively about Paramount's offer.  In an interview with CNBC on Monday, Paramount CEO David Ellison said there was an "inherent bias" in the bidding. Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. In his CNBC interview Monday, Ellison said he had "great conversations" with Trump, but did not characterize the discussions. Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is "highly confident" in the regulatory process.  (Reporting by Dawn Chmielewski in Los Angeles, Harshita Mary Varghese and Aditya Soni in Bengaluru; Additional reporting by Milana Vinn and Jody Godoy in New York and Jaspreet Singh in Bengaluru; Editing by David Gaffen, Arun Koyyur and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

Dec 8 (Reuters) – Netflix's $72 billion Warner Bros deal led to several price target cuts by Wall Street analysts as U.S. President Donald Trump warned of market-share concerns, underscoring the tough scrutiny that the acquisition is likely to face. The deal that combines the world's largest streaming service with HBO Max and a major Hollywood studio has also drawn criticism from bipartisan lawmakers and unions on concerns it could lead to job cuts and higher prices for consumers. Trump warned on Sunday while speaking at the Kennedy Center that the combined group's enlarged market share "could be a problem" and that he will be involved in the decision. White House economic adviser Kevin Hassett told CNBC on Monday that the U.S. Justice Department would examine the deal's impact for "quite a while." Netflix has agreed to a $5.8 billion termination fee if it cannot obtain regulatory approval, in a sign of confidence of a greenlight. To ease concerns of market concentration, it is likely to argue that the market for online video also includes YouTube and TikTok – two of the most popular platforms with hundreds of millions of users. "Antitrust opposition stalls consummation of the deal for a couple of years, and raises at least an element of risk about completion," said Rosenblatt analyst Barton Crockett. Hollywood unions have voiced concerns about increased market concentration, reduced film output and the potential for higher consumer costs. Rival bidder Paramount Skydance has said the deal process was biased, raising chances of a higher bid or a hostile takeover. The political dynamics may be further complicated by Warner Bros Discovery's rejection of Paramount Skydance, a studio with Trump connections, in favor of Netflix, analysts said. At least three brokerages cut their price targets for Netflix, with consensus median price target now at $139, according to data compiled by LSEG. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Arun Koyyur)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets. But Paramount's latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly.  Paramount's $30-per-share cash offer includes financing from Affinity Partners, the investment firm run by Jared Kushner, U.S. President Donald Trump's son-in-law, and several Middle Eastern government-run investment funds, and is backstopped by the Ellison family. Larry Ellison, the world's second-richest person, is the father of Paramount head David Ellison and has close ties to the White House.  The studio argues its bid for the entirety of Warner Bros Discovery is superior to Netflix's bid, providing shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that Paramount-Warner Bros combination would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition.  "We believe our offer will create a stronger Hollywood," Paramount CEO David Ellison said in a statement. Ellison said on several occasions on Monday  Paramount's bid includes Warner Bros Discovery's cable television properties; Netflix's bid is limited to the Warner Bros film and television studios, HBO and the HBO Max streaming service. Analysts noted that Paramount's offer comes with its own antitrust scrutiny as a consolidation of two major television operators. Last month, Democratic senators warned that such a transaction would result in "one company controlling almost everything Americans watch on TV." The combined studio would also have a greater market share than current leader Walt Disney Co, and add to fears of consolidation that have hit the industry hard in recent years.  The offer represents a 139% premium over the company's undisturbed stock price, and bests Netflix's $27.75 offer that mixes cash and stock. KUSHNER, SAUDIS PART OF PARAMOUNT OFFER Warner Bros Discovery and Netflix did not immediately respond to requests for comments on Paramount's deal. In a regulatory filing, Paramount said that the Ellison family, which owns Paramount, along with private equity firm RedBird Capital, had agreed to backstop $40.7 billion in equity capital. The offer also includes financing from Kushner's Affinity Partners, the Saudi and Qatari sovereign wealth funds, and L'imad Holding Co, owned by the government of Abu Dhabi. Netflix's offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers. "While it is perhaps a sad commentary on the U.S. that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival," said Chris Beauchamp, chief market analyst at UK-based IG Group.  Shares of Paramount were up 7.7% on Monday. Warner Bros Discovery rose 5%, while Netflix shares fell 4.5%. TWISTS AND TURNS Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing.  Paramount maintained that it would be a champion of Hollywood and its talent, would remain committed to releasing movies in theaters, and that its path to regulatory approval would be faster than Netflix's. "Our proposal is superior to Netflix's in every dimension, higher headline value, increased certainty in that value, greater regulatory certainty, and a pro-Hollywood, pro-consumer and pro-competition future," said Ellison. In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros "never engaged meaningfully" with these proposals. "The Warner Bros Discovery acquisition is far from over. Netflix is in the driver's seat but there will be twists and turns before the finish line. Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged," said eMarketer senior analyst Ross Benes. Paramount has argued the combination of its Paramount+ streaming service with Warner Bros' HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney's Disney+ – offering consumers more choice.  Warner Bros' television networks, which include CNN and TNT, would be in a stronger position, when united with Paramount's television portfolio, the studio argued.  It had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner.  That followed reports that Warner Bros' management called the Netflix deal a "slam dunk" while speaking negatively about Paramount's offer.  'BIAS AGAINST US' In an interview with CNBC on Monday, Paramount CEO David Ellison said there is an "inherent bias" against his company in the bidding. Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. In his CNBC interview Monday, Ellison said he had "great conversations" with Trump, but did not characterize the discussions. Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is "highly confident" in the regulatory process.  (Reporting by Harshita Mary Varghese and Aditya Soni in Bengaluru; Editing by Arun Koyyur and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Corrects typo in headline tag) Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, as it looks to scupper the Hollywood studio's deal with Netflix, in a last-ditch effort to create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets.  Here's what analysts and market experts are saying about the latest development:         CHRIS BEAUCHAMP, CHIEF MARKET ANALYST AT IG GROUP, UK "Paramount clearly thinks it has the upper hand here, and that the benefits are worth the punchy price tag and the all-cash offer. While it is perhaps a sad commentary on the US that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival. Now we wait to see if Netflix is prepared to undergo more short-term shareholder pain by sweetening its deal." BEN BARRINGER, HEAD OF TECHNOLOGY RESEARCH, QUILTER CHEVIOT, LONDON "Paramount's blockbuster bid for Warner Brothers underscores that we are just at the beginning of this saga rather than at the end point. Following Netflix's surprise bid for the entertainment giant at the end of last week, a rival bid from Paramount was expected and as expected they have looked to push Netflix to the sidelines with a significantly higher value." "Paramount ultimately needs this deal more than Netflix, and that may be a driving factor in the valuation it is putting on Warner Bros. Paramount remains a legacy entertainment provider that lacks the scale required for the modern age. Consolidating amongst peers is the sensible play and gives them the best opportunity to rival Disney for that number two slot behind Netflix." MKI GLOBAL PARTNERS, LONDON "In Washington, the concern will be about a single group controlling a very large slice of US general entertainment, kids and sports networks, with scope to lean on distributors and advertisers and to push prices up. That is the discussion the DOJ will likely want to have about this combination, even if it comes pre-blessed by the White House." ADAM SARHAN, CHIEF EXECUTIVE, 50 PARK INVESTMENTS, NEW YORK "It's bullish for the media. Whoever ends up acquiring those assets will be the winner. It's one company that's being acquired. This doesn't change disrupt the media business. All it is, is consolidating the media business. You have companies that have a lot of cash, like Paramount and Netflix.  "They have deep pockets. There could be a bidding war here, but the reality is whoever walks out with those assets, it's going to benefit the shareholders of that company, assuming they don't overpay."     PAOLO PESCATORE, ANALYST, PP FORESIGHT, LONDON "This is turning messy very quickly and seems like sour grapes. There were concerns that Paramount Skydance would challenge the auction process. For Paramount Skydance, it would have been far easier and more efficient to bid appropriately through the auction." "While a decision has been made, Warner Bros Discovery will need to consider all options. In essence, there is so much more at stake than simply offering a bigger deal. This latest episode has the makings of a TV show in its own right." "I, like many, was surprised by the outcome as Paramount Skydance seemed to be in pole position given its interest in acquiring the entire company. This would have been the far easiest outcome for WBD, without the need to separate Global Networks later, as is currently the case."             ROSS BENES, SENIOR ANALYST, EMARKETER  "The Warner Bros Discovery acquisition is far from over. Netflix is in the driver's seat but there will be twists and turns before the finish line. Paramount will appeal to shareholders, regulators and politicians to try to stymie Netflix. The battle could become prolonged." CRAIG HUBER, ANALYST, HUBER RESEARCH PARTNERS, CONNECTICUT "Paramount should be very careful taking on the amount of debt they are proposing to fund buying Warner Bros. Discovery, in our opinion, regardless of the synergies given the long-term secular revenue pressure the legacy businesses face which are not going away. Debt is not your friend with media stocks. Did putting CBS and Viacom together work out?" (Reporting by Jaspreet Singh, Arnav Mishra, Arpan Varghese and Avinash P in Bengaluru Editing by Anil D'Silva)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets. But Paramount's latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly.  Paramount argued that its $30-per-share, all-cash offer for the entirety of Warner Bros Discovery is superior to Netflix's bid, providing shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that the combination of Paramount and Warner Bros would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition.  "We believe our offer will create a stronger Hollywood," Paramount CEO David Ellison said in a statement.  However, analysts noted that Paramount's offer comes with its own risks, including additional debt needed to make the transaction work. A Paramount-Warner Bros combination would boost its dominant position in the studio business, giving it a greater market share than current leader Walt Disney Co, and add to fears of consolidation that have hit the industry hard in recent years.  KUSHNER, SAUDIS PART OF PARAMOUNT OFFER Warner Bros Discovery and Netflix did not immediately respond to requests for comments on Paramount's deal. In a regulatory filing, Paramount said that the Ellison family, which owns Paramount, along with private equity firm RedBird, had agreed to backstop $40.7 billion in equity capital. The offer also includes financing from Affinity Partners, run by President Trump's son-in-law Jared Kushner; other financing comes from the Saudi and Qatari sovereign wealth funds and L'imad Holding Co, owned by the government of Abu Dhabi. Netflix's offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers. Shares of Paramount were up 6.8% on Monday. Warner Bros Discovery rose 5.5%, while Netflix shares fell 4%. TWISTS AND TURNS Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing.  Paramount maintained that it would be a champion of Hollywood and its talent, would remain committed to releasing movies in theaters, and that its path to regulatory approval would be faster than Netflix's. "Our proposal is superior to Netflix's in every dimension, higher headline value, increased certainty in that value, greater regulatory certainty, and a pro-Hollywood, pro-consumer and pro-competition future," said Ellison. In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros "never engaged meaningfully" with these proposals. The $30 cash offer represents a 139% premium over the company's undisturbed stock price, and bests Netflix's $27.75 offer that mixes cash and stock. "The Warner Bros Discovery acquisition is far from over. Netflix is in the driver's seat but there will be twists and turns before the finish line. Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged," said eMarketer senior analyst Ross Benes. Paramount has argued the combination of its Paramount+ streaming service with Warner Bros' HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney's Disney+ – offering consumers more choice.  Warner Bros' television networks, which include CNN and TNT, would be in a stronger position, when united with Paramount's television portfolio, the studio argued.  It had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner.  That followed reports that Warner Bros' management called the Netflix deal a "slam dunk" while speaking negatively about Paramount's offer.  'BIAS AGAINST US' In an interview with CNBC on Monday, Paramount CEO David Ellison said there is an "inherent bias" against his company in the bidding. Some analysts and industry experts see Paramount as the best candidate for acquiring Warner Bros, given Ellison's deep pockets – backed by his father, Oracle co-founder and the world's second-richest person, Larry Ellison, who has close ties with the Trump administration. Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. In his CNBC interview Monday, Ellison said he had "great conversations" with Trump, but did not characterize the discussions. "While it is perhaps a sad commentary on the U.S. that Paramount thinks its closeness to the occupant of the Oval Office will help it seal the deal, it is merely doing what it can to steal a march on its rival," said Chris Beauchamp, chief market analyst at UK-based IG Group. The combined company will have substantial overlap and its combined streaming revenue would decline unless Netflix doubles its prices or runs separate platforms, neither of which the brokerage expects, Morningstar analysts have said.  Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is "highly confident" in the regulatory process.  (Reporting by Harshita Mary Varghese and Aditya Soni in Bengaluru; Editing by Arun Koyyur and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) – Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film studios and streaming assets. But Paramount's latest attempt means the jockeying for Warner Bros and its prized HBO and DC Comics assets will not come to a conclusion swiftly.  Paramount argued that its $30-per-share, all-cash offer for the entirety of Warner Bros Discovery is superior to Netflix's bid, providing shareholders $18 billion more in cash and an easier path to regulatory approval. It also argued that the combination of Paramount and Warner Bros would be in the best interest of the creative community, movie theaters and consumers, who would benefit from enhanced competition.   "We believe our offer will create a stronger Hollywood," Paramount CEO David Ellison said in a statement.  Netflix's offer comes with a $5.8 billion break-up fee and was likely to face strong antitrust scrutiny; U.S. President Donald Trump raised questions about the offer over the weekend. The bid has already drawn sharp criticism from bipartisan lawmakers and Hollywood unions over concerns that it could lead to job cuts as well as higher prices for consumers. Shares of Paramount were up 3.7% in morning trading following the company's bid. Warner Bros Discovery jumped 6.7%, while Netflix shares fell 3.6%. TWISTS AND TURNS However, Paramount's bid could also face its own level of scrutiny. A Paramount-Warner Bros combination would boost its dominant position in the studio business that some also worry could lead to job losses as the industry rapidly consolidates. Reuters had already reported, citing sources familiar, that Paramount had raised its offer to $30 per share on Thursday for the entire company, but that the Warner Bros board had concerns about the financing.  In its appeal to shareholders, Paramount said it submitted six proposals over the course of 12 weeks, but Warner Bros Discovery "never engaged meaningfully" with these proposals. The $30 cash offer represents a 139% premium over the company's undisturbed stock price, and bests Netflix's $27.75 offer that mixes cash and stock. "The Warner Bros Discovery acquisition is far from over. Netflix is in the driver's seat but there will be twists and turns before the finish line. Paramount will appeal to shareholders, regulators, and politicians to try to stymie Netflix. The battle could become prolonged," said eMarketer senior analyst Ross Benes. Paramount submitted multiple offers starting in September to forge an entertainment powerhouse capable of challenging Netflix and tech giants such as Apple that have expanded into media but faced rejections.  The studio argued that the combination of its Paramount+ streaming service with Warner Bros' HBO Max would position it for growth, and create a meaningful competitor to Netflix, Amazon Prime Video or Walt Disney's Disney+ — offering consumers more choice.  Paramount maintained that it would be a champion of Hollywood and its talent, and would remain committed to releasing movies in theaters, and would continue to do so if combined with Warner Bros.  Warner Bros' television networks, which include CNN and TNT, would be in a stronger position, when united with Paramount's television portfolio, the studio argued.  It had sent a letter to Warner Bros, questioning the sale process and alleging the company has abandoned a fair bidding process and predetermined Netflix as the winner.  That followed reports that Warner Bros' management called the Netflix deal a "slam dunk" while speaking negatively about Paramount's offer.  'BIAS AGAINST US' In an interview with CNBC on Monday, Paramount CEO David Ellison said there is an "inherent bias" against his company in the bidding. "We will be the largest investor in this deal. We're literally sitting here today because we are fighting for our shareholders, and we're also fighting for the shareholders of Warner Bros Discovery," Ellison said in an interview with CNBC. Some analysts and industry experts see Paramount as the best candidate for acquiring Warner Bros Discovery, given Ellison's deep pockets – backed by his father, Oracle co-founder and the world's second-richest person, Larry Ellison, who has close ties with the Trump administration. Bloomberg News has reported Trump met Netflix co-CEO Ted Sarandos in mid-November, telling the executive Warner Bros should sell to the highest bidder. The combined company will have substantial overlap and its combined streaming revenue would decline unless Netflix doubles its prices or runs separate platforms, neither of which the brokerage expects, Morningstar analysts have said.  Looking to allay antitrust fears, Sarandos had said the deal would drive value for consumers, shareholders and talent, saying Netflix is "highly confident" in the regulatory process.  Analysts said Netflix's motivation would stem from securing exclusive, long-term control over premium IP and reducing reliance on external studios as it expands into gaming, live entertainment and broader consumer ecosystems. Access to WBD's vast IP trove would provide immediate credibility, audience reach and merchandising potential for its gaming ambitions, an area where Netflix is still building original content and brand recognition. (Reporting by Harshita Mary Varghese and Aditya Soni in Bengaluru; Editing by Arun Koyyur and Nick Zieminski)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)