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Netflix boss defends bid for Warner Bros as Paramount deadline looms

BBC News·@Bbc·2 months ago
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The boss of Netflix has told the BBC its takeover bid for Warner Bros is better than a rival one from Paramount because it would expand the business and the industry. Netflix co-chief executive Ted Sarandos told the Today programme its bid was focused on "growth", adding: "We're buying a movie studio and a distribution entity that we don't currently have - we'll be adding to the market." Last December, Warner Bros agreed to a takeover offer from Netflix for some of its assets, but Paramount has made a rival offer. Last week, Warner Bros gave Paramount until the end of Monday to submit a "best and final" offer ahead of the shareholder vote on the Netflix deal next month. Netflix has offered $27.75 a share, or $82.7bn (£61.2bn) in total, for Warner Bros' studio and streaming networks - including brands such as Warner Bros, New Line Cinema, and HBO Max - leaving the rest of the firm to be spun off as an independent company.…

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