Warner Bros. Discovery has revealed, in a Securities and Exchange Commission filing, that an unknown fourth bidder submitted a bid for the company.
According to Forbes, the filing indicates Warners received offers for all or some of its business from Netflix and Paramount, as well as a ‘Company A’ and a ‘Company C’.
‘Company A’ offered to buy only Warner Bros. Discovery’s film and streaming assets, matching the bid put out by Comcast which was otherwise not named in the filing.
‘Company C’ however bid for Warner Bros. Discovery’s Global Networks business (CNN, TNT and TBS) in addition to 20% of its film and streaming assets.
All that’s known about the mysterious organisation is that was an ‘American media company’. That bid was deemed “not actionable”, which is why WBD didn’t move forward with that bid at all.
Meanwhile, the actual sell-off process is getting nastier with the Warner Bros Discovery board urging shareholders to reject the $108.4 billion hostile takeover offer from Paramount Skydance reports The Guardian.
In a blunt letter to shareholders on Wednesday morning, Warners accused Paramount of having “consistently misled” investors, with the complaint being about Paramount’s claims that they have the “full backstop” on their bid from the Ellisons.
In response to this, Paramount reaffirmed its commitment to buy the company for $US30 a share.
