Globals

NBA Media Rights Drama: Warner Bros. Discovery Shares Hit Record Low After Liberty Global’s Formula E Acquisition

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Los Angeles, CA – Warner Bros. Discovery experienced a significant drop in its shares on Thursday, with a record low of approximately 7%. This decline came after Liberty Global, the owner of Formula One, announced its intentions to acquire Warner Bros. Discovery’s stake in Formula E, the electric car racing series. This acquisition now gives Liberty Global a majority ownership stake of 65% in the motorsport. Mike Fries, CEO of Liberty Global, expressed excitement about …

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Paramount Global’s Merger Offer with Skydance Hits Major Roadblock – Shari Redstone Unhappy With Alternative Deal

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Los Angeles, California – After weeks of back-and-forth negotiations, the proposed merger between Skydance and Paramount Global seems to be hitting a roadblock. Paramount’s special board committee has shown signs of hesitance towards the offer, which would have involved acquiring Shari Redstone’s controlling stake in the company, followed by a merger with Skydance, led by David Ellison. During a 30-day exclusive negotiating period, Skydance made a revised offer to include incentives for Paramount common shareholders …

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Reliance Industries Acquires Paramount Global’s Stake in Viacom18 for $517 Million – What This Means for the Future of Media!

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Mumbai, India – Paramount Global has reached an agreement to sell its 13 percent stake in Viacom18, an Indian media company, to Reliance Industries for approximately $517 million, according to a recent securities filing. Reliance Industries, a multinational conglomerate, is already the majority shareholder in Viacom18, which boasts properties such as the streaming service JioCinema and popular channels like Colors, Comedy Central, and MTV. In a strategic move, Disney previously entered into a deal with …

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