Netflix Sweetens $72B Bid for Warner Bros. Discovery Amid Paramount Duel
What’s Happening at Netflix?
Netflix has sweetened its $72-billion bid for Warner Bros. Discovery’s streaming and studio division — offering to pay entirely in cash to edge out rival Paramount Skydance (Paramount).
The 2 entertainment giants have been trying to win over shareholders for months.
Unlike Netflix, Paramount is looking to acquire Warner Bros. Discovery entirely, which would include the likes of CNN and the Discovery+ streaming channel.
However, the company’s board rejected Paramount’s $108.4-billion hostile bid earlier this year — characterizing it as a risky offer leveraged on borrowed money.
In response, the entertainment giant is currently suing Warner Bros. Discovery for the details of its deal with Netflix and plans to nominate new directors to its board.
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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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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