Cedenmo
Oct 3, 8:04 PM
$LION NFLX only expressed interest in WBD to make sure Ellisons overpaid. Was a repeat of Disney vs Comcast for Fox Entertainment assets from a few years back.
Even if PSKY bailed, NFLX would have likely been OK paying WBD the
$6B break-up fee to prevent them from being Ellisons’ takeover target.
Keeping Ellisons further behind in the rear view was the goal. Now they’re riding their bumper, but saddled with more debt at
$33 vs
$21.
Probably smart to hold this, AMCX and/or Starz (can’t remember if they’re standalone) in event the biggies need more ammo.
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