U.S. Department of Justice investigates the impact of Warner Bros. sale on cinemas — Bloomberg

LootboxPhobia · 2026-02-19T03:16:38+00:00

The U.S. Department of Justice has launched an investigation into Warner Bros Discovery Inc.'s sale, focusing on its impact on major chain cinemas. Warner Bros rejected Paramount's hostile takeover bid, reached an agreement with Netflix, and will hold a shareholder vote on March 20.

LootboxPhobia

2026-02-19 03:16:38

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Investing.com - Bloomberg News reported on Wednesday that the U.S. Department of Justice is investigating the potential impact of Warner Bros Discovery Inc (NASDAQ:WBD) sale on major nationwide theater chains.

The report cited sources familiar with the matter, stating that government attorneys have summoned some of the largest theater chains in the U.S. to assess the effects of the sale.

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Just before this news was released, Warner Bros rejected an unsolicited takeover offer from Paramount Skydance Corp (NASDAQ:PSKY) on Tuesday, opting instead to reach an agreement with Netflix (NASDAQ:NFLX). However, the company gave Paramount seven days to submit a “best and final” offer.

Paramount bid $108.4 billion or $30 per share to acquire all Warner Bros shares, while Netflix offered $82.7 billion or $27.75 per share to acquire the company’s film and streaming businesses.

Warner Bros is scheduled to hold a shareholder vote on Netflix’s acquisition proposal on March 20.

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