Warner Bros recommends investors reject Paramount's offer in favor of Netflix's

NEW YORK (AP) — Warner Bros. Discovery is recommending its shareholders reject an unsolicited buyout offer from Paramount Skydance in favor of a rival bid from Netflix it said will better serve their interests and the entertainment company's audiences. The Warner board said in a letter to shareholders on Wednesday that Paramount’s “inferior” offer carried “significant risks and costs,” in large part because it relies heavily on borrowed money – whereas the Netflix offer is backed by a company worth more t ...