Warner Bros. Discovery wants its shareholders to reject Paramount’s latest offer
TL;DR
Warner Bros. Discovery's board unanimously recommends shareholders reject Paramount Skydance's higher offer and accept Netflix's $82.7 billion bid for its studio and streaming assets.
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Though Paramount Skydance was trying to buy Warner Bros. Discovery for much more money than Netflix is offering, David Zaslav and the rest of WBD's board are urging their shareholders to give Oracle scion David Ellison the cold shoulder.
Today, WBD's board announced that it has unanimously decided that its shareholders would be much better off rejecting Paramount Skydance and accepting Netflix's bid to buy the company's studio production and streaming arms. The news comes weeks after WBD first said that it was ready to take Netflix up on its $82.7 billion acquisition offer, and days after Paramount tried to keep the bidding war going by upp …