Entertainment
Paramount Counters Netflix With Cash Bid For Warner Bros. Discovery
Paramount launched an all-cash tender offer Monday to acquire Warner Bros. Discovery for $30 per share, challenging a previously announced deal between WBD and Netflix.
The hostile offer sets up a furious battle between Paramount — whose owner, Larry Elliso, is an ally of Donald Trump — and streaming behemoth Netflix to buy one of Hollywood’s most storied studios.
Netflix shocked the industry last week by announcing it had sealed an agreement to buy the Warner Bros. studio, drawing bitter reactions from voices in Hollywood worried about the future of their industry.
Trump weighed in on Sunday, saying Netflix’s effort to acquire Warner Bros. “could be a problem” as it would be left with a huge market share of the film and TV industry.
“We’re really here to finish what we started,” David Ellison, chairman and CEO of Paramount, told CNBC as his company made a sixth offer for Warner Bros since the bidding war began.
Unlike Netflix’s offer, Paramount’s latest bid includes cable channels such as CNN, TNT, TBS, and Discovery.
It would put the properties under the ownership of a company with close ties to the Trump administration.
The offer values the entertainment giant at $108.4 billion and represents a 139 percent premium over WBD’s September stock price of $12.54, when the bidding war began.
Paramount in a statement called Netflix’s bid, which values Warner Bros. studios at nearly $83 billion, “inferior and uncertain.”
“WBD shareholders deserve an opportunity to consider our superior all-cash offer,” Ellison said.
Over the decades, Warner Brothers has produced film classics including “Casablanca” and “Citizen Kane,” as well as more recent blockbuster shows including “The Sopranos,” “Game of Thrones,” and the “Harry Potter” movies.
Paramount argued its deal provides greater regulatory certainty than the Netflix transaction, which it said would give Netflix a 43 percent share of global streaming subscribers and face “protracted regulatory challenges across the world.”
The combined company would unite Paramount’s portfolio — including Paramount Pictures, CBS, Nickelodeon, and Paramount+ — with WBD’s assets, including HBO Max and major sports rights.
Paramount said the merger would generate over $6 billion in cost savings while maintaining theatrical releases and increasing content spending.
Keeping movies in theaters is a very sensitive issue for the creative industry in Hollywood.
Netflix is already viewed negatively in some Hollywood circles, largely due to its reluctance to release content in theaters and its disruption of traditional industry practices.
Many industry veterans consider theatrical releases essential to cinema’s appeal and prestige, and also integral to keeping a healthy Hollywood economy.
Warner Bros. Discovery’s share price skyrocketed by more than seven percent on Monday, while shares in Netflix fell by over two percent.
AFP
Actress Regina Daniels’ best friend, Ann, has regained her freedom after spending two nights in detention.
Ann reportedly regained her freedom on Wednesday evening after the case was adjourned to March 5, 2026.
Regina Daniels’ elder brother, Sammy, who made this known on his Instagram story on Wednesday, had before her release, disclosed that Ann was taken to court without access to her legal representative.
“Similar techniques. Not letting legal representative or family aware of the whereabouts. Not allowing anyone know the court, final stage prison. Case adjourned until March 5th,” he wrote.
However, announcing her release hours after the first post, Sammy wrote “My T.E.D. Ann is out.”
Recall that Ann was arrested in Lagos on Monday and flown to Abuja in a private jet over theft allegation by Regina Daniels’ estranged husband, Senator Ned Nwoko.
The senator made the fresh allegation two months after Regina parted ways with him over alleged domestic violence.
Popular social media influencer VeryDarkMan, popularly known as VDM, has responded after reality TV personality Phyna described him as a “Very Dirty Boy” and blamed him for the collapse of her relationship with actress Iyabo Ojo.
Phyna had earlier claimed that her closeness to VeryDarkMan significantly contributed to the strain between her and Iyabo Ojo.
In a detailed public response, VeryDarkMan said he was deeply disappointed by the accusation, maintaining that his support for Phyna was always sincere and without conditions.
He explained that he consistently showed up for the former reality star at different stages of her career, including reposting promotions for her movies and offering guidance on both personal and professional issues.
According to VDM, he made himself accessible whenever Phyna reached out whether she needed advice, paid promotional support, or help with family-related concerns stressing that he often listened and assisted without expecting anything in return.
He also questioned what benefit he personally derived from the relationship, emphasizing that his actions were motivated by loyalty and goodwill, not personal gain.
Reflecting on a past controversy, VeryDarkMan hinted that greed and certain choices eventually strained the relationship, adding that several people who once supported and promoted Phyna have since stepped back as public interest in her waned.
Despite the disagreement, the influencer concluded on a peaceful note, saying he bears no bitterness and sincerely wishes Phyna success in all her future pursuits.
Big Brother Naija reality show star, Phyna has stated that actress Iyabo Ojo unfollowed her because she commented on Verydarkman’s post.
Phyna made this claim during her Twitch livestream.
The reality star explained that before her comment on Verydarkman’s post, the actress always liked and commented on her posts.
She noted that Iyabo withdrew her support and unfollowed her when she misunderstood her comment.
“She was having issues with V. So, I twitted to like replying to V because V made a statement but it was mistaken, and since then I think mama doesn’t like me that much again because before she used to comment on my posts, she used to like it.
“Now she no longer likes it and she no longer follows me. And I’m very sure it’s because of the dirty boy but it’s one I have to face”, Phyna said.
Recall that Verydarkman, a popular social media critic, is known for his online disputes with public figures, especially the actress.
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