Warner Bros. rejects Paramount takeover
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Paramount Skydance gained fresh ammunition in its campaign to convince Warner Bros Discovery shareholders that its $108.4 billion bid for the storied Hollywood studio, HBO, and Discovery Channel is the better offer: the market's response to Comcast's spin-off.
NEW YORK (AP) — Warner Bros. Discovery is recommending its shareholders reject an unsolicited buyout offer from Paramount Skydance in favor of a rival bid from Netflix it said will better serve their interests and the entertainment company’s audiences.
The sale of Warner Bros. Discovery, whether in part to Netflix or as a whole to Paramount, has put cable and broadcast TV in a precarious position for 2026.