Overview
- Major outlets report Netflix is considering a revised offer that is entirely cash for WBD’s studios and streaming assets, replacing its cash‑and‑stock terms valued at about $82.7 billion.
- Paramount Skydance filed in Delaware Chancery to force WBD to disclose how it values the planned Discovery Global spin‑out and how debt is treated under the Netflix transaction.
- Paramount is holding to a hostile, all‑cash bid of $30 per share valuing WBD at roughly $108.4 billion, with partial backing from a personal guarantee by Larry Ellison.
- WBD’s board has reaffirmed support for the Netflix deal and urged investors to reject Paramount’s offer, citing financing complexity and closing risks in the rival proposal.
- A proxy fight is in play as Paramount prepares its own board nominees, and the outcome now hinges on court‑ordered disclosures, the timing of a shareholder vote, and regulatory review.