Jasmine Crockett Enters Senate Race, Paramount's Hostile Takeover, Mamdani's Mansion: AM Update 12/9
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What is Paramount's hostile takeover bid for Warner Bros Discovery?
good morning everyone i'm megan kelly it's tuesday december 9th 2025 and this is your am update our offer is 30 a share all cash 41 billion dollars in equity that's backstopped by the ellison family paramount announcing a hostile bid to purchase warner brothers discovery just one day after netflix announces a signed deal to do the same turning texas blue is what i want to talk to y'all about today U.S. Congresswoman from Texas Jasmine Crockett announces a run for U.S. Senate. Late night host Jimmy Kimmel's contract extended for a year. Months after the host was yanked off the air for a whopping six days. And New York City Mayor-elect Zoram Mamdani announces he is prepping for his move to a New York City mansion.
All that and more coming up in just a moment on your AM Update. As President Trump is settling into his new administration, one of the top Democrats in Congress aiming to undermine the Trump agenda is Senator Dick Durbin. And according to our sponsor, the Electronic Payments Coalition, Senator Durbin has a new scheme, a government takeover of your credit card. Today, Americans have thousands of choices in credit cards, but they say Senator Durbin's plan will result in less competition and less security. And that means more risk for your credit and identity. Learn more at guardyourcard.com and consider telling your senators to stop Dick Durbin's government takeover of your credit card before it's too late.
Paramount Skydance on Monday launching a hostile takeover bid to purchase Warner Brothers Discovery, taking its offer directly to shareholders just one day after Netflix announced a signed deal to purchase the legacy studio. A hostile takeover is when a buyer takes control of a target company without the approval or consent of the target company's board of directors.
What does Jasmine Crockett's Senate campaign mean for Texas politics?
Paramount offering shareholders an all-cash offer, valuing the company at about $108 billion, as opposed to Netflix's signed deal of $83 billion, paid out in a mix of cash and stock. CEO of Paramount Skydance, David Ellison, pitching his offer yesterday morning on CNBC.
Our offer is $30 a share, all cash, $41 billion in equity that's backstopped by the Ellison family and Redbird, $54 billion in debt with commitments from Citi, Bank of America, and Apollo. We have faster regulatory certainty to close, and our deal is pro-consumer, it's pro-creative talent, it's pro-competition. And we believe that when you actually, to further contextualize, there are $30 in cash, or is basically $17.6 billion in cash more than the $23 in share they signed up. And we believe when they see what is currently in our offer, that that's what they'll vote for.
Paramount taking the position that Warner Brothers never, quote, engaged meaningfully with its proposals throughout the high-stakes bidding war. Paramount's offer would buy all of Warner Brothers Discovery's assets, including its cable networks like CNN, TBS, and TNT. Netflix's deal, by contrast, would acquire only the film and TV studios, including HBO and HBO Max, with Warner Bros. spinning off its cable channels into a separate company. CNBC host David Faber with more on how the upcoming process will play out.
What this will have the effect of doing essentially is making the shareholder vote on the Netflix transaction the key, where shareholders will be making their voices heard conceivably according to Paramount. And the fact that throughout in this press release, they feel as though they were not given the attention they deserved, and were not treated on equal footing to Netflix.
How did Jimmy Kimmel's contract extension impact his show?
And hence, in bringing a tender offer of this type to shareholders, they are going to share everything with those shareholders of Warner Brothers in the hopes, of course, that they will put pressure on the company in some way and or at least indicate that they're unwilling to vote in favor of the current transaction with Netflix. As these things go, when you file a tender offer, you are then put the company you filed against in the position of having to file a D9, which requires them to come out with all the reasons why they decided what they did.
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Chapters
8 chapters
1
What is Paramount's hostile takeover bid for Warner Bros Discovery?
0:02–2:01
2
What does Jasmine Crockett's Senate campaign mean for Texas politics?
2:01–4:00
3
How did Jimmy Kimmel's contract extension impact his show?
4:00–5:33
4
What challenges does Netflix face with its Warner Bros deal?
5:33–6:58
5
What are the implications of the Paramount and Netflix bidding war?
6:58–7:46
6
How does Zoran Mamdani's move to Gracie Mansion affect his image?
7:46–8:44
7
What controversies surround Mamdani's transition to mayor?
8:44–9:49
8
What does the future hold for Texas Democrats in the upcoming elections?
9:49–19:35
Speakers
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