Joe Flint

Well, its options are to continue with its tender offer now, which doesn't expire for several more weeks.

They've got this offer on the table and they can see how many shareholders might sign up for it and try to force it.

But Warner is pushing back so strongly against it, I would think it's an uphill climb to get there.

a majority of shareholders they could come back with a higher bid if they don't make a higher bid though i'm not sure what other options they may have short of filing some sort of legal action if they really feel they have a strong enough case here

Paramount launching a hostile takeover bid for Warner Brothers Discovery just days after Netflix announced an $83 billion deal to purchase the studio.

And now it's kicked into Fifth Gear this morning.

Fifth Gear was right around 6 a.m.

my time, Los Angeles time, when Paramount officially launched their hostile takeover for Warner Brothers Discovery.

I'm sorry if there's a Paramount conference call in six minutes to talk about their hostile bid.

I need to be on that.

Yeah, that'd be great.

Appreciate it.

It's part of your drama.

And the idea was that they'd have this supercharged streamer of the best of HBO, the best of Discovery.

You'd have CNN in there, and then you'd still own these movie and TV studios, and it would be the ultimate Hollywood giant.

Warner decided earlier this year to break itself into two separate companies.

They were going to put the streaming and studios into one standalone company and then the cable networks such as CNN into another publicly traded company.

The cable networks were seen as a drag on the Warner stock.

So they thought that if they split the company apart, you'd have this one company that would have the movie studios and TV studios and HBO Max, all these sexy properties.

And then the other company would have, you know, what is still a good cash business, but seen as a melting ice cube in the cable network universe.