Overview
- Delaware Vice Chancellor Morgan T. Zurn denied Paramount Skydance’s request to fast‑track its disclosure suit, finding no cognizable irreparable harm and noting Paramount was not misled as a stockholder.
- Warner Bros. Discovery says fuller details will come in its merger proxy for the Netflix deal, with a shareholder vote targeted for late spring or early summer and no meeting date yet set.
- Paramount’s $30 per‑share all‑cash tender currently expires Jan. 21, and its counsel indicated it would extend the deadline after reporting fewer than 400,000 shares tendered as of Dec. 19.
- Netflix is considering shifting its $27.75‑per‑share cash‑and‑stock offer to an all‑cash bid to shorten the timeline, supported by reported bridge financing of about $59 billion with roughly $25 billion already refinanced.
- Paramount is preparing a proxy fight and proposing a bylaw change requiring shareholder approval for the Discovery Global spinoff, while highlighting Larry Ellison’s irrevocable $40.4 billion personal guarantee backing its bid.