Warner Bros. Discovery rejects Paramount bid
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Warner Bros. Discovery rejected the $30/share takeover bid from David Ellison's Paramount Skydance, with WBD unanimously backing the deal with Netflix.
Warner Bros. Discovery's U.S. Networks division has promoted Discovery Channel's Joseph Boyle and TLC's Alon Orstein to the networks' heads of content. The pair previously served as the respective networks' senior vice presidents of production and development.
Soo Kim, founder of New York hedge fund Standard General, has been in talks over potentially buying or investing in the Warner Bros Discovery television networks, the Financial Times reported on Thursday.
Warner Bros. Discovery CEO David Zaslav said Wednesday that the regulatory review of Warner’s deal with Netflix has begun, even as Paramount mounts a hostile takeover bid. Two senators are now coming forward and pressing Attorney General Pam Bondi to recuse herself from the review of the deal.
David Leavy, a longtime advisor to Warner Bros. Discovery CEO David Zaslav, announced his exit after more than two decades at the company. He will leave at the end of 2025. The executive started at Discovery in 2000 as its chief corporate operating officer.
Affinity Partners had planned to back a bid by Paramount Skydance to acquire all the assets of media giant Warner Bros. Discovery.