Warner Bros. Discovery Rejects Paramount Bid After Ellison Guarantee

Warner Bros. Discovery unanimously rejected Paramount Global's amended hostile takeover bid despite a $40 billion personal guarantee from Larry Ellison.The board maintains that the $30-per-share offer is inferior to a merger with Netflix due to high debt risks and insufficient shareholder protections.The decision follows Paramount's attempt to sway investors by devaluing cable networks like "CNN" and "Animal Planet" to nearly zero.