Benzinga·2025-12-16 21:36Core Viewpoint - Warner Bros. Discovery (WBD) leadership is advising shareholders to reject the bid from Paramount Skydance Corp. and to maintain the existing agreement with Netflix [1][2]. Group 1: Company Actions - WBD plans to formally recommend that stock owners turn down Paramount's offer [1]. - The announcement is expected to be made as early as Wednesday [2]. - WBD's stock experienced a slight decline following the news [4]. Group 2: Competing Offers - Netflix has proposed a value of $27.75 per share, which includes a combination of cash and equity, specifically for acquiring HBO Max and production assets [3]. - Paramount's offer is a cash price of $30 per share for the total enterprise [4]. - The expiration date for Paramount's tender offer is set for January 8, which may lead to a delay in any improved terms being revealed [4].