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Netflix co-CEO Ted Sarandos is set to testify on Tuesday before a Senate panel.
Netflix amended its Warner Bros. Discovery acquisition bid to an all-cash offer at $27.75 per share.
KEY POINTS
- Warner Bros. Discovery's board unanimously rejected Paramount's higher-value offer, citing Netflix's deal as superior.
- The Senate committee hearing will include testimony from top Netflix and Warner Bros. Discovery executives.
- Paramount's rival bid would require significant debt financing and was deemed riskier by Warner Bros. Discovery.
COMPANIES
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