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In a bidding battle that is expected to last months, the quest the acquire Warner Bros. Discovery took an interesting turn this week.
Last Friday (December 5), Netflix announced its plan to acquire WBD's studio and streaming business for $83 billion. The boards of both companies approved the deal.
Three days later, Paramount launched a hostile takeover bid and offered WBD's shareholders the equivalent of $108 billion to sell the company.
Paramount has the backing of three foreign equity partners...the Saudi Public Investment Fund, the Abu Dhabi-based L'imad Holding Company PJSC and the Qatar Investment Authority, as well as Jared Kushner's Affinity Partners.
So, will the shareholders opt for the cash from overseas or will they go the "safer" route and take whatever new bids come in from Netflix?
Oddsmakers at BetOnline.ag are banking on the latter, giving Netflix a 71.4% implied probability of acquiring Warner Bros. Discovery.
The below odds are sure to shift over the course of the next couple of months..
Which entity will acquire Warner Bros. Discover?
Netflix -250
Paramount +175
- BetOnline Press
