Warner Bros. Discovery today urged shareholders to reject Paramount‘s hostile $108 billion takeover proposal, saying Netflix‘s previously accepted offer remains superior. In a 3-page letter, WBD laid out its concerns about a number of aspects of Paramount’s offer. One of its primary issues is the repeated insistence by Paramount that its offer is backstopped by the Ellison family fortune. Larry Ellison, the father of Paramount CEO David Ellison, is a financial backer of the transaction and, as co-founder o ...

In this articleWBDNFLXA man walks past movie posters at at AMC Theater in Montebello, California on May 5, 2025. Frederic J. Brown | AFP | Getty ImagesMovie theater operators woke up Friday to the possibility of a new world order.Netflix and Warner Bros. Discovery announced a deal for the streaming giant to acquire WBD's film studio and streaming service, bringing an end to a months-long bidding process that saw Paramount Skydance and Comcast also vying for the assets.With Netflix as the victor, exhibitors ...