Paramount Makes Hostile Bid for Warner Bros. Discovery to Quash Netflix Deal
What’s Happening?
In an attempt to snub Netflix, Paramount Skydance (Paramount) has launched a hostile bid worth $108.4 billion USD for Warner Bros. Discovery.
“[Paramount] will be the largest investor in this deal. We’re literally sitting here today because we are fighting for our shareholders, and we’re also fighting for the shareholders of Warner Bros. Discovery,” CEO David Ellison told CNBC on Dec. 8.
“We’re really here to finish what we started…We put the company in play.”
The bombshell update comes just days after Netflix secured a $72-billion equity deal for Warner Bros. Discovery’s TV, film studios, and streaming assets.
How Acquiring Warner Bros. Discovery Affects Canadians
According to LinkedIn, Warner Bros. Discovery currently employs more than 300 Canadians.
When companies are acquired by another business, it’s not uncommon for the “new owner” to cut jobs to better align with their existing operations.
For a broader understanding of your rights following a sale, check out our resources for Ontario, Alberta, or British Columbia (BC). You can also use our free Pocket Employment Lawyer to get real-time insights.
Workplace Issue? Get Help Now
Contact Samfiru Tumarkin LLP: 1-855-821-5900 or request a consultation online.
Our employment lawyers in Ontario, Alberta, and BC have helped tens of thousands of non-unionized individuals successfully resolve various workplace issues, including matters that occur before or after an acquisition.
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Contact your union immediately. By law, employment lawyers can’t represent unionized employees.
Disclaimer: The materials above are provided as general information about the rights of non-unionized employees in Canada. It is not specific to any one company and SHOULD NOT be read as suggesting any improper conduct on the part of any specific employer, or a relationship between Samfiru Tumarkin LLP and a specific employer.
About the Author
Lior Samfiru
Lior Samfiru is a Founding Partner at Samfiru Tumarkin LLP and the Practice Leader of the firm’s Labour & Employment Law Group. Known for his advocacy and success representing both employees and employers, Lior exclusively serves clients in Ontario, where his extensive experience has made him one of Canada’s most sought-after employment lawyers.
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