Warner Bros Discovery: The High-Stakes Race for Iconic Movie Assets

Warner Bros Discovery might reject Paramount Skydance's $108.4 billion bid, opting instead to support Netflix's buyout in a strategic move. This decision involves classic film and TV assets, potentially shifting power in the streaming industry. Paramount claims its offer is financially robust and viable for regulatory approval.

Warner Bros Discovery's board is reportedly set to reject Paramount Skydance's monumental $108.4 billion takeover bid, insiders reveal. The decision could be announced as soon as Wednesday, with shareholders likely advised to oppose the offer.

This potential rejection signifies a strategic pivot towards recommitting to Netflix's previously successful buyout offer. The assets at stake include Warner Bros' legendary film and TV studio, alongside an impressive library featuring classics like 'Casablanca' and 'Citizen Kane'.

The battle for these assets is heating up, as acquiring them would provide a significant boost in the competitive streaming domain. Paramount's $30-a-share bid for Warner Bros' entirety is being marketed as superior to Netflix's offer, backed by substantial financial support.

(With inputs from agencies.)