Warner Bros. board rejects $108.4 billion Paramount bid, saying Netflix deal still superior

Paramount refuses to back down in Warner Bros. Discovery takeover fight against Netflix

Paramount on Thursday continued to insist it made a superior offer for Warner Bros. Discovery, compared to that of Netflix, despite pushback from the WBD board of directors.Netflix agreed last year to acquire Warner Bros. Discovery's film and television studios and streaming platform, HBO Max, in a cash-and-stock deal valued at $27.75 per Warner Bros. Discovery share. Paramount, a Skydance Corporation, then launched a hostile takeover bid for al…

Warner Bros. Discovery Rejects Paramount's Amended Bid

Warner Bros. Discovery Board of Directors for the second time voted unanimously Wednesday to reject Paramount’s latest offer to buy them and reiterated its recommendation in support of the Netflix offer of $82.7 billion. The Board said following the vote, and it’s decision to reject Paramount, it immediately sent a letter to Warner Bros. Discovery shareholders providing details on its recommendation. “The Board unanimously determined that the Pa…

Warner Bros. Discovery Says No To Paramount Bid

The board of Warner Bros. Discovery has again rejected a revised hostile takeover bid from Paramount, saying the offer remains inferior to its existing deal with Netflix. In a letter to shareholders, the board said Paramount’s proposal carries excessive risk because it relies on more than $50 billion in new debt, likening it to a leveraged buyout that could collapse under financing strain. Warner Bros. Discovery has turned down the latest acquis…

Why Netflix might be better off without Warner Bros.

Netflix investors aren’t cheering its takeover bid for Warner Bros. You can’t blame them, David Olive writes.

Warner Bros. Urges Shareholders to Reject Paramount's Hostile Bid

The board supports Netflix's deal, which it believes is backed by more secure financing.