Warner Bros. Discovery CEO David Zaslav spoke to employees Friday about the company’s upcoming deal with Paramount, calling the rapid shift from Netflix to Paramount “whiplash-y.” A recording of the town hall was obtained by Business Insider.
Zaslav explained that Warner Bros. Discovery (Wbd) had been negotiating a sale to Netflix for $27.75 per share, but Netflix backed out. Paramount quickly made a higher offer of $30 per share and agreed to pay a “ticking fee” of 25 cents per share—about $650 million per quarter—if the deal didn’t close on time.
“For even us, the speed — it feels a little whiplash-y,” Zaslav said. “We’re getting our bearings.”
He emphasized…
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.imdb.com ’
ADVERTISEMENT
