After Netflix's initial offer, Paramount Skydance swooped in with a hostile takeover attempt of the entire Warner Bros. Discovery business. WBD rejected it, Paramount tried again. Several additional volleys between the involved parties occurred over the past few weeks. While WBD has not yet formally accepted Paramount's offer — which will be subject to long-winded regulatory approvals sure to spark more drama — it seems the dust will soon settle for this chapter.
The Block founder announced Thursday the company would be laying off nearly half its workforce, cutting 4,000 employees, down to just under 6,000 workers from over 10,000.
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