Paramount Stands By Its WBD Offer Despite Board Rebuff, Warns Netflix Scenario Would Add To Linear TV Woes

Paramount is standing by its current proposal to acquire Warner Bros. Discovery, warning shareholders that embracing Netflix‘s offer would saddle them with a “heavily indebted, sub-scale linear business.” The David Ellison-led media company conveyed its position in a press release Wednesday, soon after WBD’s board of directors recommended against the Paramount option. Neither party has changed its deal terms, though it is widely expected that Wednesday’s crossing of swords could usher in a new round of com ...