Paramount Stands By Hostile $108 Billion Takeover Bid For Warner Bros. Discovery Despite Rejection

Paramount on Wednesday reaffirmed its $108 billion hostile takeover bid for Warner Bros. Discovery, which earlier insisted its shareholders reject the proposal in favor of Netflix.In a letter to shareholders, Warner Bros. Discovery said the David Ellison-led hostile offer was “inferior” to Netflix’s offer valuing its studio and streaming businesses at $27.75 per share.In the three-page letter, Warner Bros. Discovery chair Samuel DiPiazza said the board conducted another review of Paramount’s latest offer an ...