The flailing stock price for the media company known as Versant, with cable assets including CNBC, MS NOW (formerly MSNBC) and E!, is adding credibility to arguments being made by rival Paramount Skydance that shareholders should reject WBD’s decision to select Netflix as winner of the months-long bidding war and switch sides to support its own $78 billion, $30-a-share, all-cash offer for the media conglomerate. That’s because a key aspect of the Netflix deal is the sale of WBD’s own cable assets – CNN, TNT and Discovery – on the bet that doing so would push the overall price for WBD’s studio and streaming service to $30.75 per share. The questions over the valuation of WBD’s cable-asset spinoff – known as the equity stub – come as WBD’s board is expected on Wednesday to respond to Paramount’s latest sweetened offer for the company.
Author: Charles Gasparino
Published at: 2026-01-06 23:36:44
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