According to a Reuters report, the investor said Paramount’s latest bid and Netflix’s original offer are a toss-up, and that there is a cost involved in changing paths.
Warner Bros. Discovery Inc.’s (WBD) fifth-largest shareholder, Harris Oakmark, reportedly said on Tuesday that the latest offer from Paramount Skydance Corp. (PSKY) is not adequate.
According to a Reuters report, the investor said Paramount’s latest bid and Netflix Inc.’s (NFLX) original offer are a toss-up, and that there is a cost involved in changing paths.
“If Paramount is serious about winning, they’re going to need to provide a greater incentive,” said Alex Fitch, Harris Oakmark portfolio manager and Director of U.S. Research, according to the report.
Paramount Skydance shares edged up by 0.1% in Tuesday’s pre-market trade, while Warner Bros. Discovery shares were up around 0.2%. Retail sentiment on Stocktwits around Paramount trended in the ‘neutral’ territory, while users felt ‘bearish’ about Warner Bros. Discovery.
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