Trump says Netflix deal to buy Warner Bros. ‘could be a problem’<\/b><\/a><\/p>\nParamount criticized the Netflix offer, saying it \u201cexposes WBD shareholders to a protracted multi-jurisdictional regulatory clearance process with an uncertain outcome along with a complex and volatile mix of equity and cash.\u201d<\/p>\n
Paramount said it had submitted six proposals to Warner Bros. Discovery over a 12 week period.<\/p>\n
\u201cWe believe our offer will create a stronger Hollywood. It is in the best interests of the creative community, consumers and the movie theater industry,” Paramount Chairman and CEO David Ellison said in a statement. “We believe they will benefit from the enhanced competition, higher content spend and theatrical release output, and a greater number of movies in theaters as a result of our proposed transaction,\u201d<\/p>\n
RELATED STORY |\u00a0<\/b>Streaming shake-up: Netflix to absorb Warner Bros. and HBO in $82.7 billion deal<\/b><\/a><\/p>\nOn Friday Netflix struck a deal to buy Warner Bros. Discovery, the Hollywood giant behind \u201cHarry Potter\u201d and HBO Max. The cash and stock deal is valued at $27.75 per Warner share, giving it a total enterprise value of $82.7 billion, including debt. The transaction is expected to close in the next 12 to 18 months, after Warner completes its previously announced separation of its cable operations. Not included in the deal are networks such as celebrity.land and Discovery.<\/p>\n
But President Donald Trump said Sunday that the deal struck by Netflix to buy Warner Bros. Discovery \u201ccould be a problem\u201d because of the size of the combined market share.<\/p>\n<\/div>\n