Date:	--/--/-- --:--:--
Event Id:	E5DU03Q1V
Action Type:	ACQUISITION
Action Status:	PROPOSED
Acquirer Symbol:
Target Symbol:	WBD
Updated:	--/--/-- --:--:--
Purchase Price Per Share:	30
Price Per Share Currency:	USD
News References:	https://www.prnewswire.com/news-releases/paramount-launches-all-cash-tender-offer-to-acquire-warner-bros-discovery-for-30-per-share-302635412.html

Action Notes

Paramount, a Skydance Corporation today announced it has commenced an all-cash tender offer to acquire all of the outstanding shares of Warner Bros. Discovery, Inc for $30.00 per share in cash. Paramount's proposed transaction is for the entirety of WBD, including the Global Networks segment. The Paramount offer for the entirety of WBD provides shareholders $18 billion more in cash than the Netflix consideration. WBD's Board of Directors recommendation of the Netflix transaction over Paramount's offer is based on an illusory prospective valuation of Global Networks that is unsupported by the business fundamentals and encumbered by high levels of financial leverage assigned to the entity.