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Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix's $27.50 cash/stock package.
The Netflix plan calls for WBD to spin off its global networks division; Discovery Global, including CNN, TNT, free-to-air channels across Europe; and digital products such as Bleacher Report and Discovery+
Paramount CEO David Ellison said WBD shareholders deserve an opportunity to consider his superior cash offer for the entire company.
He believes the Netflix offer “exposes shareholders to a mix of cash, an uncertain future trading value of the global networks linear cable business and a challenging regulatory approval process.”
Paramount said its offer enhances competition, is pro-consumer and good for the Hollywood community, while Netflix would face serious regulatory pushback since it controls 43 percent of the global subscription- on-demand market.
Brunswick’s Paramount team includes Nik Deogun (Americas CEO), Jonathan Doorley (New York office head) and Matt Levine (partner). Gagnier Communications has Dan Gagnier working the business.
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