arstechnica.com
Paramount Skydance has escalated its hostile takeover bid for Warner Bros. Discovery (WBD) by filing a lawsuit in Delaware. This move aims to force WBD to disclose financial details regarding its $82.7 billion agreement to sell its streaming and movie businesses to Netflix.
Paramount argues its own $108.4 billion all-cash offer of $30 per share is superior to Netflix’s $27.72 per share deal. CEO David Ellison criticized WBD for refusing to negotiate or provide transparency. Additionally, Paramount plans to nominate directors to WBD’s board to oppose the Netflix acquisition before the January 21 tender deadline.
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