LOS GATOS, CA—In an attempt to fend off growing competition from Paramount and Netflix, Plex CEO Keith Valory announced Monday that the streaming platform had submitted a $35 bid for Warner Bros. Discovery. “We believe the Harry Potter and DC universes will prove excellent additions to our slate of free-to-stream titles including Petticoat Junction and Party Mamas,” said Valory in a press release, calling the deal a “significant upgrade” on their initial offer of $15 and adding that the company was willing to pay the $35 in four installments over the next 10 years, or $6 up front plus $2 in stock options. “Plex has become synonymous with free-to-watch, ad-supported entertainment in recent years, reaching over 10 million Google searches in 2023. Where else other than Tubi can you watch reruns of Rucker’s Reno alongside films like USS Indianapolis: Men Of Courage? We think Warner Bros. shareholders will be very pleased by our handsome offer. We are unwilling to go beyond this. David Zaslav, the ball is in your court.” At press time, executives were hoping to sweeten the deal by throwing in a half-eaten bag of SunChips.
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