Warner Bros Rebukes Paramount's Takeover Bid as Illusory

Warner Bros Discovery has rejected a $108.4 billion hostile takeover bid from Paramount, labeling it misleading and risky for shareholders. Despite multiple offers from Paramount, Warner Bros prefers Netflix's existing merger agreement, citing its stronger financial commitments. Paramount's financial reliability and creditworthiness have been questioned by Warner Bros.

Warner Bros Discovery's board has rebuffed a $108.4 billion hostile takeover offer from Paramount Skydance, calling it "illusory" and accusing the studio giant of misleading shareholders about its financial assurances.

Despite Paramount's repeated bids, Warner Bros maintains that Netflix's merger offer is preferable, offering better financial stability and fewer risks. Doubts regarding Paramount's financial capabilities have been raised by Warner Bros, citing risks that could affect shareholders adversely.

In response, Warner Bros highlighted the concerns around Paramount's debt levels, dubbing the company's financial backing as complex and ambitious, risking further job losses in Hollywood. As discussions continue, Warner Bros has not set a date for evaluating the merger proposals.