Netflix pulled off the Warner Bros. Discovery buyout with help from Skadden, while Wachtell and Debevoise repped WBD on the other side of the table. The deal values each WBD share at $27.75 through a mix of cash and Netflix stock, and the whole thing clocks in around $82.7 billion total enterprise value with $72 billion in equity. Skadden partners Kenton King, Sonia Nijjar, and Lauren Kramer handled the Netflix side after working together on the Microsoft-Activision deal, and Wachtell's Andrew Nussbaum, plus Karessa Cain, led for Warner.
The merger is getting absolutely roasted by politicians and industry groups who think it's gonna destroy competition and wreck movie theaters. Senator Elizabeth Warren already called it an anti-monopoly disaster, and Paramount apparently hired Quinn Emanuel to challenge how WBD ran the whole bidding process after getting beaten out by Netflix.
Regulators in Europe and America are definitely gonna give this heavy scrutiny since Netflix would be swallowing a competitor with 130 million streaming subscribers and basically owning HBO Max outright.
The merger is getting absolutely roasted by politicians and industry groups who think it's gonna destroy competition and wreck movie theaters. Senator Elizabeth Warren already called it an anti-monopoly disaster, and Paramount apparently hired Quinn Emanuel to challenge how WBD ran the whole bidding process after getting beaten out by Netflix.
Regulators in Europe and America are definitely gonna give this heavy scrutiny since Netflix would be swallowing a competitor with 130 million streaming subscribers and basically owning HBO Max outright.
