"State of play: WBD' s board has 10 days to respond to a hostile takeover bid from Paramount, launched Monday after WBD announced a deal to sell its studio and streaming businesses to Netflix for $83 billion. While the board has said it believes Netflix's offer was superior to Paramount's for financial reasons, it will need to weigh whether choosing to reject Paramount's tender offer could invite shareholder lawsuits."
"In a press briefing Wednesday, Trump said he will "probably be involved" in the WBD deal decision, and that it's "imperative" that CNN be sold as part of any deal, so that its owners can't "spend even more money spreading poison because it's lies." "I wouldn't want to see the same company end up with CNN," he said. "Because I think the people that are running CNN right now are either corrupt or incompetent (with) decision-making.""
WBD's board has 10 days to respond to a hostile tender offer from Paramount after WBD announced a deal to sell its studio and streaming businesses to Netflix for $83 billion. Paramount launched a $108 billion bid for all of WBD, including its cable networks. The WBD board says Netflix's offer is financially superior but must consider the risk of shareholder lawsuits if it rejects Paramount's tender. Paramount argues its bid faces fewer regulatory hurdles because it includes cable assets. Trump said he may be involved and insisted CNN must be sold, raising regulatory concerns for Netflix's offer. Both Paramount and Netflix have lobbied the administration aggressively.
Read at Axios
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