Netflix, Warner Bros.
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The move comes as the Supreme Court also appears poised to put antitrust enforcement by the Federal Trade Commission under his control.
On today's 'Daily Variety' podcast, unions and industry groups assemble to fight Netflix's WB-HBO acquisition; Report from the Red Sea Film Festival.
Paramount's David Ellison said that if Warner Bros. Discovery's board took his current offer, it would be "admitting breach of fiduciary duty."
Since Netflix's deal was confirmed last Friday (December 5), Paramount has since launched a cash bid of $100 billion, with the studio stating that Warner Bros. Discovery "never engaged meaningfully" with their previous attempts to negotiate a deal.
David Ellison fought hard to win Warner Bros. Discovery. But despite his strenuous efforts, he lost out to Netflix — and now Ellison is switching from carrots to sticks: Paramount Skydance is taking its case directly to shareholders in a hostile takeover bid for WBD.
Plus, the president allows China to get Nvidia chips and unveils a $12 billion bailout for farmers, in this edition of the WSJ Politics newsletter.