Warner Bros reportedly poised to reject Paramount’s $108bn hostile takeover bid
by Mark Sweney from on (#727K4)
Decision will pave the way for Netflix to proceed with buyout of film and TV group
Warner Bros Discovery is poised to tell shareholders to reject Paramount's $108bn (81bn) hostile bid, according to reports, clearing the way for Netflix to proceed with its buyout of the Hollywood film and TV group.
The board could announce a decision as early as Wednesday after Paramount Skydance - run by David Ellison and bankrolled by his billionaire father, Larry, who founded Oracle - went directly to shareholders with its rival offer almost two weeks ago.
Continue reading...