Warner Bros. Discovery's board has formally rejected Paramount Skydance's hostile takeover bid, urging shareholders to stick with Netflix's previously announced acquisition. The decision shuts down Paramount's attempt...

Paramount was seeking to trump plans by streamer Netflix to acquire the Hollywood giant.

LOS ANGELES: Warner Bros Discovery's board spurned Paramount Skydance's US$108.4 billion hostile takeover bid on Wednesday (Dec 17), calling the offer "illusory" as it accused the studio giant of misleading shareholders about its financing.Paramount has been in a race with Netflix to win control of Warner Bro

Warner Bros’ board said it found Paramount’s offer “inferior” to the merger agreement with Netflix’s. Read more at straitstimes.com. Read more at straitstimes.com.

LOS ANGELES, Dec 17 : Warner Bros Discovery's board rejected Paramount Skydance's $108.4 billion hostile bid on Wednesday, saying it failed to provide adequate financing assurances.  In a letter to shareholders, disclosed in a regulatory filing, the board wrote that Paramount had "consistently misled" Warne

LOS ANGELES: Warner Bros Discovery's board spurned Paramount Skydance's US$108.4 billion hostile takeover bid on Wednesday (Dec 17), calling the offer "illusory" as it accused the studio giant of misleading shareholders about its financing.Paramount has been in a race with Netflix to win control of Warner Bro

Bloomberg is reporting that Warner Bros. Discovery's board will advise shareholders to reject Paramount Skydance's hostile bid offering.