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Warner Bros Discovery says no to Paramount Skydance offer

Warner Bros to Paramount - close but no cigar
Warner Bros to Paramount - close but no cigar
18 Dec - Despite its attempt for a hostile bid, just like a jilted lover, it looks like Paramount Skydance has failed to win Warner Bros Discovery (WBD) to forgo Netflix.

It was revealed that Warner Brother's board members have "unanimously" recommended rejecting the offer, agreeing that the deal with Netflix was in the firm's best interests.

In a statement released on 18 December, the WBD stated that its board "has unanimously determined that the tender offer launched by Paramount Skydance ('PSKY') on December 8, 2025, is not in the best interests of WBD and its shareholders and does not meet the criteria of a 'Superior Proposal' under the terms of WBD's merger agreement with Netflix announced on December 5, 2025."
David Ellison's Paramount Skydance earlier made a hostile bid for WBD
David Ellison's Paramount Skydance earlier made a hostile bid for WBD
It is noted that Netflix is buying the Warner Bros studios, HBO and HBO Max for USD 27.75 per share.

"The terms of the Netflix merger are superior. The PSKY offer provides inadequate value and imposes numerous, significant risks and costs on WBD," Warner Bros. Discovery's board says in a letter to shareholders.

It is noted that Paramount Skydance, led by David Ellison, recently offered a USD 30 per share and announced that Skydance was taking its offer for all of Warner Bros. Discovery directly to shareholders, despite the deal between WBD and Netflix.
WBD will not change its mind on deal with Netflix
WBD will not change its mind on deal with Netflix




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