The Option

Paramount's February 20 Deadline: What Happens Next

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Paramount Skydance's February 20 Deadline — What Happens Next in the WBD Bidding War?

David Ellison and Paramount Skydance have three weeks to decide their next move in the Warner Bros. Discovery bidding war. WBD's board rejected their $108 billion hostile bid—and February 20th is the deadline before deal protections make any alternative transaction significantly harder.

In this episode:

  • Paramount's three strategic options: raise the bid, launch a tender offer, or walk away
  • Why the Ellison family's $40 billion personal guarantee limits their flexibility
  • The contradiction of Paramount licensing content to Netflix while bidding against them
  • What happens to Paramount Skydance if they abandon the WBD bid
  • Why February 20th is Netflix's real finish line in the streaming wars

    • Key takeaway: "Paramount has three weeks to decide: raise, call, or fold. The entire streaming landscape is waiting to see which card they play."

    Related topics: Hollywood M&A, streaming consolidation, entertainment dealmaking, media bidding wars, Netflix acquisition, David Ellison strategy

    The Option is a daily intelligence briefing on the business of Hollywood. Subscribe for entertainment industry news, media M&A analysis, and streaming business insights. New episodes every weekday at 6 AM PT.

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    The OptionBy Oil&Cattle