Paramount sues Warner Bros, threatens proxy fight
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Wall Street analysts have speculated that Paramount will eventually surpass the $30 threshold to win support for its proposal to acquire all of WBD, including CNN. But for now, WBD continues to say that its existing deal to sell Warner Bros. and HBO (but not CNN or other cable assets) to Netflix is in the shareholders’ best interests.
Paramount aims to install friendly directors at the next Warner shareholder meeting as it sues WBD for more information on why it chose Netflix.
Warner Bros. Discovery clapped back at Paramount Skydance's lawsuit seeking more financial details on WBD's deal with Netflix and said Paramount's continued campaign to try to convince Warner Bros. shareholders that its $30/share offer is superior is an attempt to "distract" investors.
Warner Bros. Discovery called Paramount’s proposed transaction “not superior to Netflix” and slammed the David Ellison company for failing to raise its offer. "Despite six weeks and just as many press releases from Paramount Skydance,
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