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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.
C Street Advisory Group and Publicis' Groupe's Kekst CNC unit work the Chapter 11 filing of Saks Global Holdings as the luxury retailer evaluates its "operational footprint."
Nashville’s Wortman Works is handling Old Glory Bank, which bills itself as the online bank for freedom-loving Americans, as it goes public via a $250M SPAC deal with Digital Asset Acquisition Corp.
FGS Global and Collected Strategies handle $1.5B merger of discount airlines Allegiant and Sun Country Airlines. (Updated)
Dan Scorpio, H/Advisors Abernathy’s managing director and head of the M&A and activism practice, has joined FTI Consulting’s Chicago office.
ICR Healthcare handled Boston-based cancer drug developer Aktis Oncology as it upsized its initial public offering due to robust investor demand.
