Overview
- Paramount filed suit seeking detailed disclosures on Warner Bros. Discovery management’s decision to favor Netflix’s rival proposal.
- Paramount said it will nominate its own candidates to the Warner Bros. Discovery board to influence the outcome with investor support.
- Netflix has bid about $83 billion for the studio and streaming operations, with reports that news and cable units would be spun off if it prevails.
- Paramount’s $108.4 billion offer covers the entire company, including TV networks such as CNN, making their valuation central to investor deliberations.
- Warner Bros. Discovery management has indicated a preference for Netflix’s bid, as political scrutiny grows given Larry Ellison’s backing of Paramount and President Trump’s calls for a change in CNN’s ownership.