Overview
- Warner Bros. Discovery’s board unanimously urged investors not to tender shares to Paramount Skydance after deeming its $30‑per‑share all‑cash offer inadequate.
- Directors accused Paramount of misleading shareholders about a supposed Ellison family “full backstop,” pointing to an opaque revocable trust and credit concerns.
- Netflix’s $82.7 billion agreement to acquire Warner Bros. and HBO/HBO Max remains board‑backed as a binding deal with committed debt financing and no equity requirement.
- Netflix co‑CEOs Ted Sarandos and Greg Peters visited the Warner Bros. lot in Burbank to meet company leaders as the parties prepare for shareholder and regulatory steps.
- Paramount is proceeding with its tender offer to shareholders with an initial Jan. 8 response window, while both potential transactions face extensive antitrust and global reviews that could take 12–18 months.