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In Warner Merger Battle, Netflix Co-CEO Greg Peters Rips Paramount Bid’s “Crazy” Debt; David Ellison Financier Gerry Cardinale Calls Netflix Deal “Smoke And Mirrors”

Story Arc Gerry Cardinale and Greg Peters Getty/Netflix The temperature is rising in the Warner Bros Discovery chase, with key figures at Netflix and Paramount ridiculing the other companies’ merger proposals. Netflix, running what might be termed Operation Reassure Wall Street, has recently made Co-CEOs Ted Sarandos and Greg Peters available to consumer media outlets with sizable finance and entertainment audiences. The pair also spent much of last Tuesday’s fourth-quarter earnings interview stumping for their company’s pending $82.7 billion offer to acquire WBD‘s studios-and-streaming division.

Gerry Cardinale and Greg Peters

Gerry Cardinale and Greg Peters

Credit: Deadline

Key Highlights

  • Related Stories News Paramount Extends Deadline For Warner Bros.
  • Discovery Shareholders To Back Hostile Bid; WBD Says Base Has Already Snubbed “Inferior Scheme” Executives Netflix Execs Keep Stumping For Warner Bros.
  • Deal, Say The $83B Stunner Is In Line With Pivots On Ads & Sports In the latest messaging, via the Financial Times (which came a week after Sarandos spoke to the New York Times), Peters amped up the rhetoric a bit.
  • He said Paramount’s hostile bid for WBD “doesn’t pass the sniff test” because of the “crazy” amount of debt it would entail.
  • Gerry Cardinale, head of major Paramount backer RedBird Capital, hit back, dismissing the streaming giant’s proposal as “smoke and mirrors.” Watch on Deadline While many of Peters’ points covered familiar ground, he sometimes ventured outside of the usual talking points.
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Sources

  1. In Warner Merger Battle, Netflix Co-CEO Greg Peters Rips Paramount Bid’s “Crazy” Debt; David Ellison Financier Gerry Cardinale Calls Netflix Deal “Smoke And Mirrors”

This quick summary is automatically generated using AI based on reports from multiple news sources. The content has not been reviewed or verified by humans. For complete details, accuracy, and context, please refer to the original published articles.

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