Netflix defends its pursuit of a Warner Bros. acquisition, warns of debt risks in the Paramount deal

It is stated that the transaction is essentially vertically integrated, and the path to obtaining regulatory approval is clear. Warner Bros. Discovery reiterates its recommendation for shareholders to vote in favor of the deal with Netflix. Netflix has granted Warner Bros. Discovery a seven-day waiver period to engage with competitor Paramount Skydance to discuss the terms of the latest offer. It is warned that Paramount's bid would result in a total pro forma debt of approximately $84 billion, with a leverage ratio of about 7 times. (Bloomberg)