Hollywood
Paramount responds to Warner Bros’ seven-day negotiation offer
$30 all-cash bid battles Netflix pact as board sets March vote
NEW YORK: The streaming wars have taken a corporate twist, with Paramount Skydance sharpening its pitch just as Warner Bros. Discovery doubles down on its planned tie-up with Netflix.
In a pointed statement, Paramount said WBD’s board has granted it a seven-day window to negotiate, but stopped short of formally declaring the $30-per-share all-cash offer a superior proposal. Such a determination would normally open the door to talks without a ticking clock.
Instead, the WBD board is pressing ahead with its special shareholder meeting on 20 March to seek approval for the Netflix merger. Proxy materials already sent to investors put the deal’s value in a range between $21.23 and $27.75 per share.
Paramount’s counter, by contrast, is simpler and sweeter. It offers $30 per share in cash, plus a quarterly ticking fee of $0.25 per share until the transaction closes, promising what it calls a faster and more certain route to completion.
While it described the board’s approach as unusual, Paramount said it is ready to engage in good-faith discussions during the short negotiating window. At the same time, it is not putting all its chips on the table. The company plans to continue its tender offer, campaign against the Netflix merger, and push ahead with plans to nominate its own slate of directors at WBD’s upcoming annual meeting.
For investors, it now reads like a three-act drama: a richer cash bid on one side, a strategic streaming partner on the other, and a board trying to keep both suitors in the wings, at least for a week.
Hollywood
Disney to cut 1,000 jobs in major restructuring drive
Layoffs span ESPN, studios and tech as company pivots to growth
MUMBAI: The magic isn’t disappearing but it is being reorganised. The Walt Disney Company has announced plans to cut around 1,000 jobs as part of a sweeping restructuring effort aimed at sharpening its edge in an increasingly unpredictable entertainment landscape. The move, led by CEO Josh D’Amaro, reflects a broader internal reset as the company rethinks how it operates, allocates resources and competes in a fast-evolving industry. In a memo to employees, D’Amaro acknowledged the difficulty of the decision but framed it as a necessary step to ensure Disney remains “efficient, innovative, and responsive” to rapid shifts in consumer behaviour and technology.
The layoffs will span multiple divisions, including marketing, film and television studios, ESPN, technology teams and corporate functions. Notifications have already begun, signalling that the restructuring is not a distant plan but an active transition underway.
Importantly, the company has clarified that the cuts are not performance-driven. Instead, they form part of a wider transformation strategy aimed at building a leaner, more agile organisation, one better equipped to respond to streaming dynamics, digital disruption and evolving audience expectations.
The timing is telling. The global entertainment industry is in the middle of a structural shift, with traditional television revenues under pressure and box office returns becoming increasingly volatile. Meanwhile, streaming platforms and digital-first competitors continue to redraw the rules of engagement, forcing legacy players to rethink scale, speed and storytelling formats.
For Disney, long synonymous with blockbuster franchises and timeless storytelling, the pivot is both strategic and symbolic. The company is doubling down on technology, direct-to-consumer services and content ecosystems that align with modern viewing habits, where audiences expect immediacy, personalisation and cross-platform experiences.
Even as the restructuring unfolds, D’Amaro struck a note of optimism, reiterating Disney’s commitment to creativity and long-term growth. Support measures for affected employees are expected as part of the transition, though details remain limited.
In essence, this is less about cutting back and more about reshaping forward. As Disney redraws its organisational map, the message is clear, in today’s entertainment world, even the most magical kingdoms must evolve or risk being left behind.
