Would Consider Revised Paramount Skydance Proposal: Nussbaum

Summary

Andrew Nussbaum, a Warner Bros. Discovery legal adviser, discusses the possibility of a revised Paramount Skydance takeover proposal and explains that WBD would evaluate any such bid on its terms and legal commitments. He expresses high confidence that Netflix's agreement to buy WBD's studio and streaming assets will close, citing value and certainty for shareholders. He also warns that a Paramount deal would face a long HSR waiting period and potential DOJ challenge, and that expiration of the waiting period does not mean clearance.

• Andrew Nussbaum says WBD would consider a revised Paramount Skydance proposal on its merits and legal commitments.
• He stresses closing is critical, not just signing a deal.
• He expresses high confidence the Netflix transaction for WBD's studio and streaming assets will close.
• He says WBD is in open dialogue with shareholders ahead of the vote.
• He notes a Paramount deal would face at least a 9-to-12-month HSR waiting period.
• He says the DOJ can challenge transactions and waiting-period expiration does not equal clearance.
• The discussion implies regulatory certainty favors the Netflix deal over Paramount's proposal.