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
Lady Gaga has welcomed her first child with fiancé Michael Polansky, marking a major new chapter for the Grammy-winning singer.
The 40-year-old pop star, whose real name is Stefani Germanotta, became a mother after years of speaking publicly about her desire to start a family.
US media reported the arrival on Friday, with People confirming the news through a source. Page Six was first to report that Gaga and Polansky had welcomed their first baby together.
However, the couple has not disclosed the baby’s name, sex or exact date of birth.
Gaga and Polansky began dating in 2020 and became engaged in 2024. The entrepreneur has largely remained out of the spotlight while supporting Gaga’s music career and philanthropic work.
The singer, affectionately known as “Mother Monster” by her fans, has previously spoken about her hope of becoming a mother, describing motherhood as her “next starring role.”
Lady Gaga recently completed her Mayhem Ball world tour in April after the release of her latest album, Mayhem. The album earned several Grammy nominations and won the award for Best Pop Vocal Album earlier this year.
Safechuck and Wade Robson have alleged that Jackson abused them while they were minors at his Neverland Ranch. Jackson denied the allegations during his lifetime.
James Safechuck, one of the men who accused late pop star Michael Jackson of sexually abusing him as a child, is set to face questioning under oath on September 14.
Safechuck, now 48, is expected to be deposed in the revived lawsuit against companies linked to Jackson.
His mother, Stephanie Safechuck, will also face questioning on October 15 and 20, with her evidence regarded as crucial because of her family’s close relationship with the singer.
Safechuck and Wade Robson have alleged that Jackson abused them while they were minors at his Neverland Ranch. Jackson denied the allegations during his lifetime.
Court documents obtained by TMZ show that the upcoming depositions will examine the claims and the circumstances surrounding Safechuck’s relationship with Jackson’s family.
Stephanie featured prominently in the 2019 documentary Leaving Neverland, where she described how the singer became close to her family after meeting her nine-year-old son during a television commercial shoot.
She said Jackson’s attention initially felt like “a fairytale” and that she became swept up in the relationship.
According to her account, she and her husband eventually allowed James to sleep in Jackson’s room—a decision she later claimed marked the beginning of the alleged abuse.
Stephanie said she subsequently asked her son whether anything inappropriate had happened, but he denied it at the time.
The legal battle had suffered major setbacks before a California appeal court revived the claims in 2023.
In 2020, a Los Angeles judge ruled that Safechuck could not sue Jackson’s companies. A similar ruling was issued against Robson the following year.
But the appellate court later ruled that both men could revive their lawsuits against the companies, reopening a legal fight that had appeared to be over.
Michael Jackson faced several sexual-abuse allegations in the 1990s and remained the subject of controversy until his death in 2009.
The forthcoming depositions could provide fresh testimony about the allegations, the role of Jackson’s companies and what Safechuck’s mother knew about the relationship at the time.
Here is a list of the nominees in key categories for the 78th Emmy Awards, which will be handed out in Los Angeles on Monday night.
“The Pitt” topped the nominations list with 25, followed by “Hacks” with 24.
So far, after the early prizes were awarded in mainly technical categories, horror-comedy “Widow’s Bay” leads the pack with eight.
The gala will be hosted by “Law and Order: Special Victims Unit” star Mariska Hargitay.
(Note: the awards for supporting actors in a limited series were handed out at the pre-ceremonies)
OUTSTANDING DRAMA SERIES
“The Diplomat”
“The Gilded Age”
“A Knight of the Seven Kingdoms”
“Paradise”
“The Pitt”
“Pluribus”
“Slow Horses”
“Your Friends & Neighbors”
OUTSTANDING COMEDY SERIES
“Abbott Elementary”
“The Bear”
“Hacks”
“Margo’s Got Money Troubles”
“Nobody Wants This”
“Only Murders in the Building”
“Shrinking”
“Widow’s Bay”
OUTSTANDING LIMITED OR ANTHOLOGY SERIES
“All Her Fault”
“The Beast in Me”
“Beef”
“DTF St. Louis”
“Love Story: John F. Kennedy Jr. & Carolyn Bessette”
LEAD ACTOR, DRAMA
Sterling K. Brown, “Paradise”
Gary Oldman, “Slow Horses”
Mark Ruffalo, “Task”
Rufus Sewell, “The Diplomat”
Noah Wyle, “The Pitt”
LEAD ACTRESS, DRAMA
Carrie Coon, “The Gilded Age”
Chase Infiniti, “The Testaments”
Keri Russell, “The Diplomat”
Rhea Seehorn, “Pluribus”
Zendaya, “Euphoria”
LEAD ACTOR, COMEDY
Yahya Abdul-Mateen II, “Wonder Man”
Steve Carell, “Rooster”
Matthew Rhys, “Widow’s Bay”
Jason Segel, “Shrinking”
Martin Short, “Only Murders in the Building”
LEAD ACTRESS, COMEDY
Quinta Brunson, “Abbott Elementary”
Ayo Edebiri, “The Bear”
Elle Fanning, “Margo’s Got Money Troubles”
Lisa Kudrow, “The Comeback”
Jean Smart, “Hacks”
LEAD ACTOR, LIMITED OR ANTHOLOGY SERIES OR MOVIE
Riz Ahmed, “Bait”
Jason Bateman, “Black Rabbit”
Charlie Hunnam, “Monster: The Ed Gein Story”
Oscar Isaac, “Beef”
Matthew Rhys, “The Beast in Me”
LEAD ACTRESS, LIMITED OR ANTHOLOGY SERIES OR MOVIE
Claire Danes, “The Beast in Me”
Sally Field, “Remarkably Bright Creatures”
Carey Mulligan, “Beef”
Sarah Pidgeon, “Love Story: John F. Kennedy Jr. & Carolyn Bessette”
Sarah Snook, “All Her Fault”
SUPPORTING ACTOR, DRAMA
Patrick Ball, “The Pitt”
Billy Crudup, “The Morning Show”
Shawn Hatosy, “The Pitt”
Gerran Howell, “The Pitt”
Jack Lowden, “Slow Horses”
Tom Pelphrey, “Task”
Carlos-Manuel Vesga, “Pluribus”
SUPPORTING ACTRESS, DRAMA
Taylor Dearden, “The Pitt”
Fiona Dourif, “The Pitt”
Allison Janney, “The Diplomat”
Katherine LaNasa, “The Pitt”
Sepideh Moafi, “The Pitt”
Julianne Nicholson, “Paradise”
Karolina Wydra, “Pluribus”
SUPPORTING ACTOR, COMEDY
Colman Domingo, “The Four Seasons”
Paul W. Downs, “Hacks”
Harrison Ford, “Shrinking”
Nick Offerman, “Margo’s Got Money Troubles”
Stephen Root, “Widow’s Bay”
Michael Urie, “Shrinking”
Tyler James Williams, “Abbott Elementary”
SUPPORTING ACTRESS, COMEDY
Dale Dickey, “Widow’s Bay”
Hannah Einbinder, “Hacks”
Janelle James, “Abbott Elementary”
Kate O’Flynn, “Widow’s Bay”
Michelle Pfeiffer, “Margo’s Got Money Troubles”
Megan Stalter, “Hacks”
Jessica Williams, “Shrinking”
SUPPORTING ACTOR, LIMITED OR ANTHOLOGY SERIES OR MOVIE: David Harbour, “DTF St. Louis”
SUPPORTING ACTRESS, LIMITED OR ANTHOLOGY SERIES OR MOVIE: Linda Cardellini, “DTF St. Louis”
Programs with most overall nominations:
“The Pitt” – 25
“Hacks” – 24
“Widow’s Bay” – 19
“Pluribus” – 18
“Beef” – 16
AFP
&m
-
Entertainment5 years agoBBNaija: “Shameful For A Married Woman” – Boma, Tega Doing ‘Stuff’ Under Duvet Sparks Outrage (See Video)
-
Entertainment5 years agoSinger, Oxlade In Big Mess After His Sex Tape With A Strange Lady Surfaces Online (Watch Video)
-
Entertainment6 years agoBBNaija: Kiddwaya Sucks Erica’s Boobs, Licks Dorathy’s Neck In Truth Or Dare Game (Video)
-
Entertainment3 years agoI’m Not Ashamed Of My Leaked Nude Photos, Ifunanya Confesses (See Photos)
-
Crime1 year agoNDLEA intercepts Saudi, UK-bound cocaine in lipsticks
-
Entertainment6 years agoI’m Not Sick But Only Lost Some Weight – Kiss Daniel
-
Crime1 year agoNDLEA seizes N3.4bn worth of opioids in Lagos, PH, uncovers drugs in chocolate tins
-
Entertainment5 years agoHow Women Should Act During Sex – Actress, Blessing Okoro Reveals (Vdeo)