In an attempt to snub Netflix, Paramount Skydance (Paramount) has launched a hostile bid worth $108.4 billion USD for Warner Bros. Discovery.
“[Paramount] will be the largest investor in this deal. We’re literally sitting here today because we are fighting for our shareholders, and we’re also fighting for the shareholders of Warner Bros. Discovery,” CEO David Ellison told CNBC on Dec. 8.
“We’re really here to finish what we started…We put the company in play.”
The bombshell update comes just days after Netflix secured a $72-billion equity deal for Warner Bros. Discovery’s TV, film studios, and streaming assets.
According to LinkedIn, Warner Bros. Discovery currently employs more than 300 Canadians.
When companies are acquired by another business, it’s not uncommon for the “new owner” to cut jobs to better align with their existing operations.
Employer Sold the Business?
For a broader understanding of your rights following a sale, check out our resources for Ontario, Alberta, or British Columbia (BC). You can also use our free Pocket Employment Lawyer to get real-time insights.
Our employment lawyers in Ontario, Alberta, and BC have helped tens of thousands of non-unionized individuals successfully resolve various workplace issues, including matters that occur before or after an acquisition.
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