Warner Bros. Discovery Chooses Netflix Over Paramount Offer

Warner Bros. Discovery's board has labeled Paramount Skydance's offer as inadequate, citing insufficient value and overshadowing risks. The board recommends shareholders reject this offer and views a merger with Netflix as more beneficial, considering the cost-related uncertainties associated with the Paramount proposal.

Warner Bros. Discovery's board has issued a stark rejection of Paramount Skydance's offer, calling it inadequate due to perceived insufficient value and inherent risks.

In light of these concerns, the board has advised shareholders against tendering their shares into the offer, stressing the potential pitfalls of such a decision.

Instead, the board has expressed unanimous support for a merger with Netflix, which is seen as offering greater benefits and fewer uncertainties than the Paramount Skydance proposition.

(With inputs from agencies.)