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Paramount Pictures' X Account Hacked, Displays Pro-Fascist Message
**In the midst of a heated battle for control of Warner Bros. Discovery (WBD), Paramount Pictures has found itself at the center of controversy after its X account was hacked and displayed a shocking message.
The official Paramount Pictures' account on X (formerly Twitter) had been compromised, with the bio section displaying a clear anti-Semitic and pro-fascist message: "Proud arm of the fascist regime". This disturbing revelation comes amidst a backdrop of high-stakes negotiations between Paramount's CEO David Ellison and WBD's CEO David Zaslav.
Just last week, Ellison announced his hostile takeover bid for WBD, which has left many in the industry scratching their heads. With Netflix's purchase deal still pending, Paramount's offer seems like a bold move to stake its claim on the coveted media conglomerate.
Interestingly enough, the hack occurred at an odd time, considering Paramount had already made its plans public following Netflix's announcement of its acquisition deal with WBD. The timing raises more questions than answers and has sparked concern among industry insiders.
In a statement to the press, Ellison emphasized the superiority of his company's all-cash offer, which amounts to $108.4 billion in enterprise value – significantly higher than Netflix's deal. This bold move seems to be a calculated attempt by Paramount to sway WBD's board of directors and ultimately secure its place as the leading player in the media landscape.
Ellison has made his stance clear regarding Netflix's offer, stating that it is an inferior proposal that exposes shareholders to a mix of cash and stock, uncertain future trading value, and challenging regulatory approval processes. He went on to say: "Our public offer provides superior value, and a more certain and quicker path to completion. We believe the WBD Board of Directors is pursuing an inferior proposal."
The funding secured by Paramount from Saudi Arabia's Public Investment Fund, Abu Dhabi Investment Authority, and Qatar Investment Authority has been reported as a major concern for WBD's acceptance of Ellison's deal. This significant backing may give Paramount the upper hand in its bid to acquire WBD.
As WBD's board announced it would take 10 business days from Paramount's bid to announce whether they will accept the deal, industry observers are bracing themselves for a high-stakes showdown between these two media giants. With Netflix's CEO Ted Sarandos confidently stating that Paramount's hostile takeover was "expected", it remains to be seen how this unfolding drama will ultimately play out.
Paramount's initial bid was made on December 8, giving WBD and its board until December 18 to come back with a decision. The clock is ticking for these media moguls as they vie for control of the industry.
**Update:**
*At the time of writing, the bio section on Paramount's X account has been reverted back to its original message: "The official X account for Paramount Pictures".