THE LATEST | CANADACNN: Netflix said it has “declined to raise its offer for Warner Bros.” after the Warner Bros. Discovery board determined that Paramount has submitted a “superior” offer for the media giant.
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With that announcement, Paramount suddenly moved much closer to taking over CNN, HBO, and the rest of the assets owned by Warner Bros. Discovery, or WBD for short…
New York Times: Although in some ways a traditional corporate cage match, the fight for Warner Bros. also drew political scrutiny — particularly around the closeness of Larry and David Ellison to President Trump, who broke precedent by declaring he would “be involved” in the outcome.
Larry and David Ellison have both spent time with Mr. Trump in recent months, and David Ellison attended Tuesday’s State of the Union address. Mr. Sarandos of Netflix quietly met with Mr. Trump in the Oval Office in November. On Thursday, Mr. Sarandos was in Washington to discuss the transaction with top administration and Justice Department officials, including Pam Bondi, the attorney general, and Omeed Assefi, the acting head of the Justice Department’s antitrust division, according to people familiar with his schedule…