Moviefone Editorial

Tag: mergers

  • Paramount Makes Surprise Win in Warner Bros. Bidding War

    Paramount Pictures Logo. Photo: Paramount.
    Paramount Pictures Logo. Photo: Paramount.

    Preview:

    • Paramount has seemingly won the bidding war for Warner Bros. Discovery.
    • Netflix had seemed to be in prime position but have backed out.
    • The news sent shockwaves through the industry.

    Though it looked in December as though streaming giant Netflix had been successful in its attempt to buy Warner Bros., in a surprise move, Paramount Skydance has swept in to snatch the deal from the company’s hands.

    Paramount’s David Ellison and his team had been making overtures to the Warner board, and recently upped its bid to the point where the board decided to go with the new offer.

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    Now the big question is whether one media giant –– especially one as similar to Warner Bros. as Paramount, can clear the regulatory hurdles such a deal would generate. But Ellison and his company’s faithfulness to the current administration would seem to be a help to them.

    Related Article: Netflix Buying Warner Bros. After Triumphing over Paramount and Others

    Netflix bosses talk the end of its bid for Warners

    Co-CEO and Chief Content Officer at Netflix Ted Sarandos attends the World Premiere of Netflix's ‘Red Notice/ at Regal LA Live. Photo: Kevin Mazur/Netflix.
    Co-CEO and Chief Content Officer at Netflix Ted Sarandos attends the World Premiere of Netflix’s ‘Red Notice/ at Regal LA Live. Photo: Kevin Mazur/Netflix.

    Netflix co-CEOs Ted Sarandos and Greg Peters released the following statement about the company’s decision to drop out of the bidding process:

    “We’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match. This transaction was always a ‘nice to have’ at the right price, not a ‘must have’ at any price.”

    What next for Paramount and Warners?

    Matt Smith in 'House of the Dragon' season 2
    Matt Smith in ‘House of the Dragon’ season 2. Photograph by Theo Whitman/HBO.

    Pending regulatory approval, Paramount will own not only Warner Bros. and HBO, but also many popular cable networks including CNN, TNT, TBS and Food Network. The deal would represent a major ground shift for the entertainment industry, which is trying to adapt to seismic shifts in audience habits and technology.

    Will the giant merged legacy media company be able to overcome competition from Netflix, which has its own sphere of influence? Only time will tell…

    (L to R) Simon Pegg as Benji Dunn, Rebecca Ferguson as Ilsa Faust, Tom Cruise as Ethan Hunt and Ving Rhames as Luther Stickell in 'Mission: Impossible - Fallout, from Paramount Pictures and Skydance. ©2021 Paramount Pictures. All Right Reserved.
    (L to R) Simon Pegg as Benji Dunn, Rebecca Ferguson as Ilsa Faust, Tom Cruise as Ethan Hunt and Ving Rhames as Luther Stickell in ‘Mission: Impossible – Fallout, from Paramount Pictures and Skydance. ©2021 Paramount Pictures. All Right Reserved.

    List of Recent Paramount Movies:

    Buy Paramount Movies & TV on Amazon

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  • CBS and Viacom Just Merged in Latest Hollywood Megadeal

    CBS and Viacom Just Merged in Latest Hollywood Megadeal

    Thirteen years after they were split into two companies, CBS and Viacom are back together again.

    Shari Redstone, vice chair of both companies, will serve as chair of the combined entity, which will be called ViacomCBS Inc.

    The new company will have a library of 3,600 film titles and 140,000 TV episodes. It will also have a a 22 percent share of the U.S. television audience, larger than Comcast, Disney, Fox Corporation, Discovery or WarnerMedia, according to THR.

    “I am really excited to see these two great companies come together so that they can realize the incredible power of their combined assets. My father [Sumner Redstone] once said ‘content is king,’ and never has that been more true than today,” said Shari Redstone.

    The transaction is expected to close at the end of 2019, pending regulatory and shareholder approvals.

    Viacom assets include Paramount Pictures, Comedy Central, MTV, VH1, Nickelodeon and BET, with CBS bringing Showtime and streaming service CBS All Access to the table.

    CBS Films, which just brought us “Scary Stories to Tell in the Dark,” is being folded into CBS Entertainment Group as the company’s priorities shift to streaming.

    The CBS-Viacom deal agreement comes after Walt Disney’s $71.3 billion buyout of 21st Century Fox and AT&T’s $85 billion takeover of Time Warner. CBS has also reportedly offered Lionsgate $5 billion for its premium cable channel Starz.

    Earlier this year, Viacom acquired Pluto TV to enhance its streaming business.

    [Via THR]