Whalesbook
Sabse bada tension hai Antitrust Reviews. US, Europe aur UK mein regulators is deal ko bade gaur se dekh rahe hain. EU toh shayad thodi adjustment ke baad maan jaye, lekin UK ki CMA toh full investigation chalu kar sakti hai, jisse deal mein deri ho sakti hai. US Justice Department ne bhi apni initial review finish kar li hai, par final approval ka abhi pata nahi.
Sirf regulators hi nahi, Hollywood ke 1,000+ filmmakers aur industry ke log bhi is deal ke khilaaf hain. Unko dar hai ki jobs jayengi, content kam diverse hoga aur market ek hi company ke haath mein aa jayega. Yahan tak ki US Senators Cory Booker aur Elizabeth Warren ne bhi isko 'antitrust disaster' keh diya hai, aur foreign financing par bhi sawaal uthaye hain. Ye sab milkar regulators par pressure bana rahe hain.
Aur ek twist! Shareholders ne CEO David Zaslav ka pay package bhi reject kar diya hai. Isme unhe $500 million se zyada equity aur $335 million tax reimbursement milne wala tha. Ye dikhata hai ki shareholders management se khush nahi hain, jo deal ke liye ek aur complexity add karta hai. Deal ki closing date September 30 hai, aur agar late hua toh 25 cents per share per quarter ka 'ticking fee' lagega.
Analysts ka bhi is deal par alag-alag view hai. Paramount Global (PARA) ka average price target ₹13.06 hai, aur WBD ka ₹26.30. WBD ka P/E ratio 95.27 hai, jabki Paramount ka P/E negative -1.41 hai, matlab unhe loss ho raha hai. Deal mein dono taraf se kaafi debt bhi hai, aur critics ko dar hai ki kya Paramount, WBD ke finances ko manage kar paayega.
Paramount CEO David Ellison ne kaha hai ki woh saal mein kam se kam 30 movies banayenge aur theatrical window 45-day rakhenge. Par ye strategies bhi regulatory checks se guzar rahi hain. Dekhte hain aage kya hota hai, lekin ye deal abhi bhi kaafi uncertain hai. Agar regulators ne roka toh Paramount ko $7 billion ka termination fee bhi dena pad sakta hai.