Warner Bros. Discovery has rejected 3 Paramount Skydance takeover offers arsenic it fields wide buyout interest, CNBC's David Faber reported Wednesday, citing sources.
Paramount's past connection was for conscionable nether $24 per stock and comprised of 80% cash, according to Faber, who previously reported a bid could travel successful astatine betwixt $22 and $24 per share.
WBD said connected Tuesday it had received "unsolicited interest" from aggregate parties and that it would expand its strategical reappraisal process to reappraisal each bids. At the aforesaid time, the institution is moving up with antecedently announced plans to abstracted into 2 entities: a streaming and studios concern and a planetary networks business.
Faber reported Tuesday that Netflix and Comcast were among the funny parties.
"It's nary astonishment that the important worth of our portfolio is receiving accrued designation by others successful the market," Warner Bros. Discovery CEO David Zaslav said successful a connection Tuesday. "After receiving involvement from aggregate parties, we person initiated a broad reappraisal of strategical alternatives to place the champion way guardant to unlock the afloat worth of our assets," helium said.
Shares of WBD gained astir 11% Tuesday. They were up different 2% successful premarket trading Wednesday.
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