economy
December 17, 2025
Warner Bros. Discovery rejects Paramount's hostile bid, calls offer 'illusory'
Warner Bros. Discovery called Paramount's offer "illusory" and said that the company had misled shareholders about its financing.
TL;DR
- Warner Bros. Discovery's board rejected Paramount Skydance's $108 billion hostile takeover bid.
- The WBD board called the offer "illusory" and stated Paramount misled shareholders about financing.
- WBD prefers its initial agreement to sell to Netflix, calling it superior.
- Netflix co-CEO Ted Sarandos confirmed their merger agreement is seen as superior.
- Paramount and Ellison's backers will review the rejection and may consider raising their offer.
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