Summary
Paramount Skydance is trying to take over Warner Bros. Discovery by suggesting new board members for the company. There is a bidding war for Warner Bros. between Paramount and Netflix, with Warner's leaders preferring Netflix's $72 billion offer over Paramount's $77.9 billion bid.
Key Facts
- Paramount Skydance wants to name its own directors for Warner Bros.
- This is part of a hostile takeover attempt by Paramount.
- Warner Bros. is caught in a bidding war between Paramount and Netflix.
- Paramount has offered $77.9 billion for Warner Bros., more than Netflix's $72 billion.
- Warner Bros.' current board supports the Netflix offer.
- Paramount has also filed a legal case for more information on how offers are valued.
- Warner Bros. has not yet scheduled its meeting to discuss these offers.
- Paramount did not list any specific board candidates yet.
