Paramount's next target in hostile takeover bid of Warner Bros. is a board of its own making

Core Viewpoint - Paramount Skydance is actively pursuing a hostile takeover of Warner Bros. Discovery, planning to appoint its own directors and seeking transparency regarding the valuation of its bid compared to Netflix's offer [1][2]. Group 1: Takeover Bid Details - Paramount Skydance has filed a lawsuit in Delaware Chancery Court to compel Warner Bros. to disclose how it values both Paramount's and Netflix's offers [1]. - Warner Bros. is currently in a bidding war, with Paramount's offer at $77.9 billion and Netflix's competing offer at $72 billion [2]. - Warner Bros. leadership has consistently rejected Paramount's overtures, urging shareholders to support the sale of its streaming and studio business to Netflix [2][3]. Group 2: Company Responses and Actions - Warner Bros. Discovery's board has determined that Paramount's offer is not in the best interests of the company or its shareholders, reiterating support for the Netflix deal [3]. - David Ellison, chairman and CEO of Paramount Skydance, emphasized the company's commitment to its tender offer, indicating that such actions are not taken lightly [3]. - Warner Bros. has not yet scheduled its annual or special meeting to discuss the Netflix offer, and Paramount has not named any potential board candidates [4].