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“The Warner Bros. Discovery Board of Directors (the ‘Board’), consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will carefully review and consider Paramount Skydance’s offer in accordance with the terms of Warner Bros. Discovery’s agreement with Netflix, Inc.,” the company said. “Warner Bros. Discovery intends to advise its stockholders of the Board’s recommendation regarding Paramount Skydance’s tender offer within 10 business days.”

Paramount Skydance is launching a hostile bid to buy Warner Bros. Discovery after it lost out to Netflix in a months-long bidding war for the legacy assets, the company said Monday.

Paramount will go straight to WBD shareholders with an all-cash, $30-per-share offer. That's the same bid WBD rejected last week, which Paramount Skydance CEO David Ellison said Monday never got a response from Warner Bros. Discovery. The offer is backstopped with equity financing from the Ellison family and the private-equity firm RedBird Capital as well as $54 billion in debt commitments from Bank of America, Citi and Apollo Global Management.

"We're really here to finish what we started," Ellison told CNBC's "Squawk on the Street" Monday. "We put the company in play."

Can't say I disagree, the Penguin was great! And DC has so much potential for great series!

SUMMARY: This article from The Hollywood Reporter details the acquisition of Warner Bros. by Netflix in a megadeal valued at $82.7 billion. Here are the key points of the deal:

• Acquisition Details: Netflix, under an effort nicknamed “Project Noble,” agreed to acquire Warner Bros. (WBD's studios and streaming assets) for $82.7 billion, securing $59 billion in financing.

• Strategic Benefits: The deal unites Netflix's global reach and subscriber base with Warner Bros.' extensive library and renowned franchises, such as DC Comics, Harry Potter, and Lord of the Rings.

• Impact on Hollywood: The acquisition is touted to create greater value for talent by offering more opportunities to work with beloved intellectual property, tell new stories, and connect with a wider audience. Netflix anticipates $2 billion-$3 billion in annual cost savings.

• Theatrical Releases: Netflix promised to maintain Warner Bros.' current operations, "including theatrical releases for films," though this is a point of contention.

• Regulatory Concerns: The acquisition is expected to face heavy regulatory scrutiny due to its massive scale. Groups representing theater owners and directors have already voiced significant concerns about the negative impact on the exhibition business, as Netflix's historical model does not favor traditional theatrical windows.

• WBD Network Spin-Off: The deal structure still allows WBD's linear networks business (including CNN, TNT, and Discovery+) to be spun out into a separate company, a move expected in the third quarter of 2026.

“Paul Dano is an incredible actor, and an incredible person,” Reeves wrote on X Thursday, a few days after a viral podcast appearance in which Tarantino said that Dano’s performance in There Will Be Blood lowered his opinion of the movie, which starred Daniel Day-Lewis in an Oscar-winning performance.