Paramount Skydance (NASDAQ: PSKY) CEO David Ellison reportedly met with major Warner Bros. Discovery (NASDAQ: WBD) shareholders in New York on Tuesday, pitching the studio's $108 billion all-cash hostile bid as a superior option to rival Netflix's (NASDAQ: NFLX) $82.7 billion cash-and-stock offer.
Shares of multinational media and entertainment corporation Paramount (NASDAQ:PSKY)
fell 2.9% in the afternoon session after investors took profits following the stock's 9% rally in the previous session, which was fueled by the company's hostile takeover bid for Warner Bros. Discovery (WBD). Paramount had launched an all-cash offer of $30 per share, valuing Warner Bros. at approximately $108.4 billion. The move was an attempt to outbid an earlier agreement between Warner Bros. and Netflix. The initial news sent Paramount's shares soaring. However, the subsequent drop suggested the initial excitement cooled as investors considered the significant hurdles of a hostile takeover.
Join us in exploring the top gainers and losers within the S&P500 index in the middle of the day on Tuesday as we examine the latest happenings in today's session.
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A Hollywood mega-merger morphs into a high-stakes bidding war as Paramount Skydance tries to outmuscle Netflix — and the Trump-era regulatory backdrop looms large.
Stocks slipped from record levels on Monday as investors shifted into “wait-and-see” mode ahead of Wednesday’s Fed decision. At the same time, Hollywood turned into a live-fire M&A battlefield, with Paramount Skydance crashing Netflix’s party for Warner Bros. Discovery and IBM writing a big AI-data check for Confluent.
Sen. Elizabeth Warren (D-Mass.) is sounding the alarm over a potential merger between Paramount Skydance Corp. (NASDAQ: PSKY) and Warner Bros Discovery Inc. (NASDAQ: WBD), while urging regulators to ignore political pressure as they evaluate the deal.
Shares of multinational media and entertainment corporation Paramount (NASDAQ:PARA)
jumped 6.5% in the morning session after the company launched a hostile, all-cash bid to acquire Warner Bros. Discovery for $30 per share.
Stay informed about the performance of the S&P500 index in the middle of the day on Monday. Uncover the top gainers and losers in today's session for valuable insights.
Paramount is offering $30 per share in cash, and the company stated that the proposed transaction is for the entirety of WBD, including the Global Networks segment.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at broadcasting stocks, starting with FOX (NASDAQ:FOXA).
Shares of multinational media and entertainment corporation Paramount (NASDAQ:PARA)
fell 6.6% in the afternoon session after Netflix (NFLX) beat out the company in the bidding war for Warner Bros. Discovery (WBD).
Let's delve into the developments on the US markets one hour before the close of the markets on Friday. Below, you'll find the top gainers and losers within the S&P500 index during today's session.
