Netflix dismisses Paramount bid in Warner takeover race

Netflix has criticized Paramount’s takeover bid for Warner Bros. Discovery, saying it “doesn’t pass the sniff test,” as competition over the media giant intensifies.

Netflix co-chief executive Greg Peters told the newspaper that the company is on track to secure support from Warner Bros. Discovery shareholders for its $82.7 billion offer focused on the firm’s film and television studios. He added that only a very small number of shares had been tendered in favor of Paramount’s rival $108 billion hostile bid for the entire company, News.Az reports, citing Reuters.

The comments highlight Netflix’s confidence in winning shareholder backing as the high-stakes battle for Warner Bros. Discovery enters a decisive phase.

News.Az 

By Aysel Mammadzada