Warner Bros. rejects Paramount’s revised takeover offer;
The board of directors of Warner Bros. Discovery has unanimously rejected a revised takeover offer from Paramount Skydance, calling the proposal “inadequate” and urging shareholders to support its existing deal with Netflix. Paramount’s updated offer, valued at about $108.4 billion, included changes intended to address earlier concerns, such as a personal equity guarantee from Oracle co-founder Larry Ellison and a higher breakup fee. However, the board of Warner Bros. Discovery said the terms still did not provide sufficient value and certainty for shareholders, indicating significant risks, costs and uncertainty about Paramount’s ability to close the deal. In a letter to
