Shareholder Rejection Urged After Paramount Revises Hostile Bid for WBD

Warner Bros. Discovery urged shareholders on January 7 to reject an updated $108.4 billion hostile takeover bid from Paramount Skydance in favor of a rival deal with Netflix.Board Chairman Samuel Di Piazza Jr. stated the Paramount offer carries significant financial risks, including over $60 billion in potential new debt despite guarantees from Larry Ellison.The decision follows a previous $82.7 billion merger agreement with Netflix that remains subject to regulatory review by the DOJ and potential scrutiny from Donald Trump.