Warner Bros. Weighs $30 Paramount Bid and ‘Wuthering Heights’ $34.8M Debut
Warner Bros. Discovery’s board is evaluating Paramount Skydance’s revised $30-per-share takeover bid covering the $2.8B Netflix break fee and promising shareholder payments if closing slips past Dec. 31. Separately, ‘Wuthering Heights’ opened to $34.8M as Warner Bros.’ ninth straight box office winner.
1. Paramount’s Revised $30-a-Share Proposal
The board of Warner Bros. Discovery is reassessing Paramount Skydance’s amended $30-per-share bid for its namesake studio and HBO Max assets. The revised offer includes covering the approximately $2.8 billion termination fee owed to Netflix if the existing $27.75-per-share agreement is terminated and commits to compensating shareholders if the deal fails to close by December 31.
2. Board Deliberation and Ancora’s Investment
Warner Bros.’s board has decided to reopen sales talks following Paramount’s latest proposal as Ancora Holdings disclosed a $200 million stake to challenge the Netflix agreement. Ancora argues that the board did not fully consider Paramount’s bid, potentially sparking a bidding war between Netflix and Paramount.
3. ‘Wuthering Heights’ Box Office Triumph
Warner Bros. achieved its ninth consecutive box office success with ‘Wuthering Heights,’ which garnered $34.8 million in its opening weekend, driven largely by female moviegoers. This string of hits underscores the studio’s robust content pipeline and could strengthen its revenue outlook amid strategic sale negotiations.