ACE OF SPADES: Paramount/Skydance Launches Hostile Takeover Bid for Warner Bros.
David Ellison is reportedly trying to induce Trump to block the Netflix buyout by promising that if he gets hold of Warner Bros. — and its failing “news” channel CNN — he’ll remake CNN into a fair and balanced network.
Paramount CEO David Ellison assured Trump officials that if the government OKs his company’s acquisition of Warner Bros. Discovery (WBD) he would overhaul the president’s media arch nemesis — CNN.
Netflix announced last Friday it reached a deal to acquire Warner and HBO properties for $72 billion – but Paramount immediately launched a hostile counterbid, taking its case directly to shareholders.
The Netflix-WBD merger is facing a stiff challenge from Paramount, whose majority shareholder is the billionaire Donald Trump ally, Oracle founder Larry Ellison.
On Monday, Paramount made its move, offering $77.9 billion in all-cash and urging Warner shareholders to reject the Netflix deal.
On a recent visit to Washington, DC, Ellison’s son David told Trump’s team he would impose sweeping changes at CNN if he purchased its parent company WBD, sources told the Wall Street Journal.
David’s father Larry discussed firing hosts like Erin Burnett and Brianna Keilar – figures Trump dislikes – with White House officials during takeover bid talks last month, the Guardian reported.
Is that true? No idea. I do know that if you really were making this offer you would want to do it privately, not publicly, with the Wall Street Journal notified. Because the president isn’t supposed to approve or nix mergers based on his personal or political self-interest. By making this supposed offer so public, it basically stops Trump from even considering taking the alleged “deal.”
It could be that Netflix, not Ellison, is pushing this story out there to pressure Trump to approve their own bid.
Leftwing movie review[er] Grace Randolf claimed that Warner Discovery shareholders are faced with two repellent options — accept Netlix’s deal and “kill the theater business,” or accept Ellison’s deal and (horrors!) put two movie studios under the control of a “conservative” man friendly to Trump.
Quelle horreur! Wait until Randolf that the movie industry only exists today because it was created by and under the control of conservative men for the first 60 years or so of the industry’s lifespan.
