WBD board tells shareholders to reject Paramount Skydance's takeover offer, saying 'value is inadequate'

Core Viewpoint - Warner Bros. Discovery (WBD) board unanimously recommends shareholders reject Paramount Skydance's takeover offer in favor of a superior proposal from Netflix [1][3] Group 1: Takeover Offer - Paramount launched a hostile bid for WBD with a $30-per-share all-cash offer, valuing the equity at $108.4 billion [2] - Paramount Skydance CEO David Ellison claims the deal is better than Netflix's and would have a higher chance of regulatory approval [2] Group 2: Board's Evaluation - WBD board concluded that Paramount's offer is inadequate and poses significant risks and costs to shareholders [3] - The board emphasized that Paramount's offer fails to address key concerns previously communicated during extensive engagements [3] - WBD is confident that its merger with Netflix represents superior and more certain value for shareholders [3]