Group 1 - Warner Bros. Discovery (WBD) shares fell by 0.8% on Wednesday morning [1][2] - The WBD board urged shareholders to reject the hostile takeover bid from Paramount Sky Dance (PSKY) at $30 per share, valuing the equity at approximately $108.4 billion, citing financing risks [1][2] - The WBD board reaffirmed its support for the cash and stock deal with Netflix (NFLX) regarding WBD's streaming and film production assets, with an equity value of about $72 billion and an enterprise value of approximately $83 billion [1][2]