Netflix, Warner Bros. Discovery Agree to $82.7 Billion Acquisition
The cash and stock transaction, valued at $27.75 per share of WBD and approximately $82.7 billion overall, is expected to close in the next 12-18 months.
The cash and stock transaction, valued at $27.75 per share of WBD and approximately $82.7 billion overall, is expected to close in the next 12-18 months.
In a tax-free transaction, the media giant plans to divide into two publicly traded companies: Streaming & Studios, headed by David Zaslav, and Global Networks, headed by Gunnar Wiedenfels.
Warner Bros. Discovery’s CEO David Zaslav confirms they are ‘now in the early stages of script development’ for multiple new ‘Lord of the Rings’ films set to begin ‘releasing in 2026,’ with ‘Lord of the Rings: The Hunt for Gollum’ (wt) coming first.
After nearly five months of discussions with the studio, an agreement has been reached for 50 animation production workers to unionize under The Animation Guild IATSE Local 839.
After 146 days on strike and five consecutive days of negotiations, both parties have tentatively agreed on a new three-year contract, with guild leaders expected to vote on the final pact and strike lift on Tuesday.
After the successful acquisition of Middle-earth Enterprises, which holds adaptive film rights for many of the famed author’s books, including ‘The Lord of the Rings’ and ‘The Hobbit,’ the media giant is set to create an entire new generation of films through the WB label New Line Cinema.
Major changes are coming to the superpowered studio now run by new co-CEOs James Gunn and Peter Safran; fans are worried their beloved character actors are in danger.
Warner Bros. Discovery CEO David Zaslav plans to revitalize the studio’s finances by reviving successful franchises, such as DCU and ‘Harry Potter’ films, if the controversial author will agree.
The comics-savvy producers will serve as co-chairmen and co-CEOs for the newly minted production outfit, which will oversee all DCU film, TV, and animation properties for Warner Bros. Discovery.
The prolific producer exits negotiations on possible role to take charge of all things DC superhero; position would report directly to company CEO David Zaslav, effectively relieving current DC Films president Walter Hamada of his duties.
The prolific producer would gain control of all things DC superhero, taking the reins from Walter Hamada and reporting directly to Warner Bros. Discovery CEO David Zaslav.
The $43 billion deal calls for creation of a new company, Warner Bros. Discovery, that will aim to outflank Disney and Netflix in the streaming space.