Netflix's Greg Peters Says Paramount's Warner Bros Bid Has No Chance Without Larry Ellison, Calls Debt Plan 'Pretty Crazy'

Netflix Inc. (NASDAQ:NFLX) co-CEO Greg Peters said Paramount Skydance's (NASDAQ:PSKY) $108 cardinal hostile bid for Warner Bros. Discovery (NASDAQ:WBD) is unrealistic without Oracle Corp (NYSE:ORCL) laminitis Larry Ellison's fiscal backing.

Netflix co-chief enforcement Greg Peters sharply criticized Paramount's rival bid for Warner Bros. Discovery, saying the connection "doesn't walk the sniff test" and would illness without Ellison's idiosyncratic support.

In an interrogation with Financial Times, Peters said Paramount's connection relies heavy connected indebtedness and outer backing, making it acold riskier than Netflix's revised $82.7 cardinal all-cash connection for WBD's movie and tv studios, including HBO and Warner Bros.

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Peters called that further leverage required for Paramount's bid "pretty crazy."

Paramount has taken its bid straight to WBD shareholders aft the company's committee rejected it, but aboriginal signs suggest constricted traction.

According to a proxy filing, Paramount has secured astir 7% of WBD shares, acold abbreviated of the bulk needed for control, the study noted.

A Netflix-Warner Bros operation would dramatically reshape Hollywood, uniting franchises specified arsenic "Game of Thrones" and "Harry Potter" with Netflix hits similar "Stranger Things" and "Squid Game."

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The imaginable has unsettled filmmakers, unions and theatre owners acrophobic astir Netflix's power connected theatrical releases.

Peters said Netflix would grant Warner Bros.' emblematic 45-day theatrical window, pushing backmost against fears that the streamer would undermine cinemas.

Regulators successful the U.S. and Europe are expected to intimately analyse some bids.

Peters argued that Netflix competes with a wide scope of players, including YouTube, a subsidiary of Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google, Amazon.com, Inc. (NASDAQ:AMZN) and Apple Inc. (NASDAQ:AAPL), noting that Netflix accounts for little than 10% of TV viewing hours successful astir markets.

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