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Paramount has been none too pleased about Netflix striking an $82.7 billion deal to buy much of Warner Bros. Discovery (WBD). Now, Paramount is making a hostile takeover bid for WBD. It's making its pitch directly to WBD shareholders with an all-cash offer of $30 per share that expires on January 8.Late last week, the WBD board unanimously accepted Netflix's offer of $27.75 per share. That breaks down to $23.25 per share in cash and another $4.50 per share in Netflix stock. Netflix's overall bid is valued at $82.7 billion, while Paramount's totals $108.4 billion. There's a key difference when it comes to the Paramount offer, as its for all of WBD. The latter is scheduled to split into two companies next year. Netflix only wants the Streaming and Studios side of WBD's business, which includes HBO Max and the Warner Bros. film, TV and game studios. Paramount is after the whole shebang, including WBD's cable channels (Global Networks). "WBD's Board of Directors recommendation of the Netflix transaction over Paramount's offer is based on an illusory prospective valuation of Global Networks that is unsupported by the business fundamentals and encumbered by high levels of financial leverage assigned to the entity," Paramount said in a press release on Monday. As of the end of September, WBD was carrying $34.5 billion of gross debt. It planned to saddle the Global Networks company (aka Discovery Global) with most of that. The Paramount offer includes financing from the Ellison family and RedBird Capital, but it would be taking on more debt to secure a deal for WBD. The bid includes "$54 billion of debt commitments from Bank of America, Citi and Apollo." (Apollo owns a majority stake in Yahoo, Engadget's parent company).In a letter sent to WBD CEO David Zazlav before the company accepted Netflix's offer, Paramount questioned the "fairness and adequacy" of the sale process. It asked whether WBD was acting in the best interest of shareholders after the management team allegedly appeared to favor the Netflix offer."Despite Paramount submitting six proposals over the course of 12 weeks, WBD never engaged meaningfully with these proposals which we believe deliver the best outcome for WBD shareholders," Paramount said. "Paramount has now taken its offer directly to WBD shareholders and its Board of Directors to ensure they have the opportunity to pursue this clearly superior alternative."Paramount which Skydance bought for $8 billion this year also claims that its offer is likely to face less regulatory scrutiny than the Netflix offer, which wouldn't close until sometime after WBD splits in two later in 2026. According to CNBC, Paramount executives believe that the company's smaller size and cozy relationship with the Trump administration will help streamline the regulatory process. Over the weekend, President Donald Trump said that Netflix's bid for WBD has "got to go through a process, and well see what happens. But it is a big market share. It could be a problem."This article originally appeared on Engadget at https://www.engadget.com/big-tech/paramount-makes-a-108-billion-hostile-takeover-bid-for-warner-bros-discovery-152248473.html?src=rss
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Marketing and Advertising
Amazon's budget Blink smart home brand is adding AI-generated video descriptions as a new benefit for subscribers. Blink Video Descriptions are text descriptions of the motion doorbells and cameras capture, and theyll be available in beta starting today, November 17.Not unlike Ring Video Descriptions, a feature offered on Amazon's other smart home brand, Blink's AI-generated descriptions are supposed to be a concise way to check out what's happening in and around your home. Any kind of motion can produce a video clip and a notification in the Blink app, but video descriptions should help weed out which ones are worth watching and worrying about.Blink says Video Descriptions will be supported on all existing Blink doorbells and cameras, provided you're paying to be a Blink subscriber for at least $4 a month or $40 a year. That means if you've scooped up one of the new Blink 2K+, Blink Outdoor 2K+ or Blink Arc cameras, you'll be able to take advantage of the feature.Blink Video Descriptions start rolling out to subscribers today in beta, though not in Illinois, possibly due to the state's Biometric Information Privacy Act.This article originally appeared on Engadget at https://www.engadget.com/home/smart-home/blink-budget-security-cameras-will-support-ai-powered-video-descriptions-143000725.html?src=rss
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Marketing and Advertising
Cyber Monday has come and gone, but you can still get a great deal on a smartwatch with the Google Pixel Watch 4 marked down to $300 from $350. At almost 15 percent off, this is the lowest we've ever seen it. The Pixel Watch 4 was just released in October and is our smartwatch of choice for users with Pixel phones. In our hands-on review we scored it 86 out of 100, taking note of its fast recharge time, health and fitness tracking, repairable design and gorgeous display. The curved display sits under a domed glass cover and sports an impressive 3,000 nits of peak brightness, well beyond the 2,000 nits max of the Apple Watch Series 11. This makes the Pixel Watch 4 about 50 percent brighter than the previous generation, and thanks to smaller bezels the display is about 10 percent bigger. The new generation also adds dual-frequency GPS, updated processors and a custom haptic engine. It also boasts a more repairable design thanks to a case that can be easily unscrewed to replace the display or battery. We did find the gesture based raise-to-talk Gemini feature a little gimmicky, and users should note that the watch must be connected to the internet for Gemini to work. Thanks to all this, we named the Pixel Watch 4 the best smartwatch for Android users. It's as good a workout companion as a daily watch and offers peace of mind with emergency SOS via satellite. If you're an Android user in the market for a smartwatch, this is one of the best deals available now. Follow @EngadgetDeals on X for the latest tech deals and buying advice.This article originally appeared on Engadget at https://www.engadget.com/wearables/the-google-pixel-watch-4-is-cheaper-than-ever-right-now-141715083.html?src=rss
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