Nandy ‘minded to intervene’ in Paramount’s £85bn Warner Bros takeover Media Culture secretary Lisa Nandy will ask the competition and media watchdogs to probe Paramount’s £85bn acquisition of Warner Bros Discovery to ensure the mega-deal doesn’t stifle the breadth of Britain’s media ecosystem. The Wigan MP said on Tuesday that she planned to authorise both the Competition and Markets Authority (CMA) and Ofcom to examine the [...]
Billionaire Netflix co-founder Reed Hastings quits after earnings miss Media The billionaire co-founder and chair of Netflix has quit after the streaming giant’s weak financial outlook spooked the market. Reed Hastings, who co-founded Netflix 29 years ago, told investors he will not stand for re-election in June and will focus on philanthropy once he leaves the firm. The shock departure comes after the streaming giant [...]
Paramount crashes Netflix-Warner Bros party with £108bn rival bid Media Paramount Skydance has launched a hostile takeover bid for Warner Bros Discovery (WBD), throwing the film titan’s recent deal with streaming giant Netflix into uncertainty. On Monday, Paramount said its all-cash tender offer of $30 (£22.50) per share provides shareholders $18bn more than Netflix’s $27.75 per share offer. Paramount chief executive David Ellison argued the [...]