Warner Bros. sticks with Netflix merger, calls Paramount’s $108B bid “illusory”
摘要
华纳兄弟探索公司董事会一致否决了派拉蒙1084亿美元的收购要约，并建议股东拒绝这一敌意收购。董事会继续支持Netflix以827亿美元收购其流媒体和电影工作室业务的交易，以及华纳兄弟有线电视部门的独立分拆计划。华纳兄弟在股东陈述中将派拉蒙的报价称为“虚幻的”，指出其需要“异常庞大的债务融资”且交易条款使其完成可能性低于与Netflix的合并。公司同时强调派拉
The Warner Bros. Discovery board has unanimously voted to rebuff Paramount's $108.4 billion offer and urged shareholders to reject the hostile takeover bid. The board is continuing to support Netflix's pending $82.7 billion purchase of its streaming and movie studios businesses along with a separate spinoff of the Warner Bros. cable TV division.
Warner Bros. called the Paramount bid "illusory" in a presentation for shareholders today, saying the offer requires an "extraordinary amount of debt financing" and other terms that make it less likely to be completed than a Netflix merger. It would be the largest leveraged buyout ever, "with $87B of total pro forma gross debt," and is "effectively a one-sided option for PSKY [Paramount Skydance] as the offer can be terminated or amended by PSKY at any time," Warner Bros. said.
The Warner Bros. presentation touted Netflix's financial strength while saying that Paramount "is a $14B market cap company with a 'junk' credit rating, negative free cash flows, significant fixed financial obligations, and a high degree of dependency on its linear business." The Paramount "offer is illusory as it cannot be completed before it is currently scheduled to expire," Warner Bros. said.
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