Netflix, WBD and Paramount
Digest more
33mon MSN
Netflix Co-CEO Ted Sarandos Accuses Paramount of 'Flooding the Zone' to Confuse Shareholders
Netflix co-CEO Ted Sarandos came out swinging after the streamer and Warner Bros. Discovery gave Paramount until Feb. 23 to submit a "best and final offer," accusing David Ellison & Co. of "flooding the zone with confusion for shareholders.
If Warner Bros. formally re-engages in a discussion with Paramount, it has to inform Netflix. The platform retains the right to match any superior offer. This indicates that we may see a significant tussle or contest of bidding in the U.S. media and streaming industry.
WBD says that Netflix is giving it seven days to talk to the David Ellison-led company to try and resolve outstanding concerns and secure a 'best and final' bid, but that it still recommends the Netflix deal.
Officially, Warner Bros. is still committed to Netflix. The company today scheduled a special meeting date of March 20 and recommended that shareholders vote for the Netflix merger. But Warner Bros. is simultaneously opening negotiations with Paramount despite calling all of its previous offers deficient.