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Paramount’s legal team has formally challenged Warner Bros. Discovery’s (WBD) fiduciary duty to its shareholders. The letter questions whether WBD is prioritizing shareholder interests, particularly concerning its media strategy. While specific concerns weren’t detailed, the letter likely pertains to recent decisions by WBD impacting the media landscape, potentially affecting Paramount’s market position or industry stability. This legal maneuver suggests escalating tensions between the two media giants and raises questions about WBD’s commitment to its shareholders’ financial well-being.
