Warner Bros Shareholders Approve Paramount's $81 Billion Takeover (apnews.com)
- Reference: 0181956380
- News link: https://entertainment.slashdot.org/story/26/04/23/1940241/warner-bros-shareholders-approve-paramounts-81-billion-takeover
- Source link: https://apnews.com/article/warner-brothers-paramount-skydance-netflix-david-ellison-d52e8730ba894adf2ebb9a69646d323b
> Per a preliminary vote count Thursday, Warner Bros. Discovery said the overwhelming majority of its stakeholders voted in support of selling the entire business to Skydance-owned Paramount for $31 a share. Including debt, the deal is valued at nearly $111 billion based on Warner's current outstanding shares. That means Warner-owned HBO Max, cult-favorite titles like "Harry Potter" and even CNN could soon find themselves under the same roof with Paramount's CBS, "Top Gun" and the Paramount+ streaming service.
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> David Zaslav, CEO of Warner Bros. Discovery, said in a statement that stockholder approval marks "another key milestone toward completing this historic transaction." Paramount added that it looks forward to closing in the coming months, and "realizing the creation of a next-generation media and entertainment company." [...] Meanwhile, Warner shareholders rejected a separate measure Thursday outlining post-merger payments for company executives.
[1] https://apnews.com/article/warner-brothers-paramount-skydance-netflix-david-ellison-d52e8730ba894adf2ebb9a69646d323b
[2] https://slashdot.org/story/26/04/13/2056254/hollywood-stars-sign-open-letter-protesting-paramount-warner-bros-merger
Of course? (Score:4, Insightful)
Of course they approved the deal. Somebody is willing to pay super big bucks for something that doesn't have even close to that level of value.
Re: (Score:2)
Politics disguised as business as usual. A group of rich billionaires wants to lie to the public and is buying up media companies so no one can counter their narrative. So that when the next Epstein scandal hits, no one will hear about it.
$81B is a horrible price (Score:2)
Warner brothers isn't worth half that but we'll see if it works out for their strategy. If Disney didn't have theme park revenue then $81B is about what Disney's market cap would be and Disney has easily 10 times as much intellectual property as Warner Bros.
Re: (Score:2)
If they really overpaid for it, there's a chance that the combined entity could end up declaring bankruptcy at some point if the economy gets bad enough to make a serious dent in their gross revenues.
So I suppose that leaves PBS,CBC,BBC, and Aljazera (Score:1, Troll)
as reliable news sources as CNN is going to become another Fox News if the deal passes regulatory muster (Trump will be using cattle prods in these regulatory agencies to get the job done)
Next up: The Walls: Bolster the southern Border Wall, Build the Northern Border Wall, and the Great American Firewall.
Then comes the the collection of personal firearms, shortwave jamming stations, harsh penalties for using Satellite Internet, and the full size statues of the president in every square with his right arm
Re: (Score:2)
Most right wing news sources are lazy and racist. For example, they put up a picture of one bad black man, and say all black men are bad. Then they put up one Mexican, and say all Mexicans are bad. The way that you know that a news source is bad is if they never retract a story, and say that they were wrong. Right wing news never say they were wrong, they just attack, attack, attack. It seems to me that MAGAs are just racists, who don't care about issues that affect their own lives, like gas prices, f
Re: (Score:1)
Unfortunately, MAGAs are making the USA like Russia, just like you describe. I don't want it, they shouldn't want it. They are doing it anyway.
Re: (Score:2)
"Better a ruzzkie than a Democrat" has been a key philosophy among the voters of the former republican party for years.
Ha ha - Paramount got baited (Score:2)
The fact the initial deal happened without any sort of public process, that makes me think that Netflix and Warner colluded to bait Ellison / Paramount into this.
Warner gets more $$$$, Netflix gets a weakened Paramount and a 2.8 billion payday. And Paramount gets a $60 billion prize it had to pay $81 billion for and now has to handle regulatory hell over.
I think Netflix had no intention of ever buying Warner Brothers. I think they totally baited Paramount.
Fuck Ellison (Score:2)
Terrible person buying influence for terrible reasons.
Not really a surprise (Score:1, Troll)
The larger shareholders get the most votes and I'm not clear on how the small shareholders come out in this but if they do get screwed they wouldn't have enough votes to say no.
That's kind of the problem with the entire stock system you don't really own much of anything unless you're a very large shareholder. You don't really get say in how the company is run. It's very much a merchant oligarchy. With the big boys making the rules and everyone else hoping they can skate by unnoticed
Re: Not really a surprise (Score:2)
I voted against it. Not surprised it went through.
Re: (Score:1)
What exactly do you expect—that buying a few shares on Robinhood should give you meaningful influence over a company? Different share classes exist for a reason. If you buy stock without understanding the share class, the dividend structure—or whether the company even has a dividend policy—and the voting rights attached to those shares, then you should not be surprised when your influence is effectively negligible. At that point, be glad if you receive dividends or benefit from price appr