Warner Bros. Discovery Advises Against Paramount's Acquisition Proposal

Warner Bros. Discovery (WBD) recommended shareholders reject Paramount Skydance's $108.4 billion takeover bid initiated on December 8, 2023.

Netflix and WBD reached a prior agreement for a $72 billion acquisition of the studio business, showcasing competing interests.

Paramount's offer, at $30 per share, was reviewed by WBD's board and deemed insufficient and risky.