WBD Rejects Paramount, Backs Netflix Deal

Warner Brothers Discovery (WBD) rejects Paramounts takeover bid, reaffirming commitment to Netflix deal. WBDs board accuses Paramount of misleading shareholders about financial backing. Netflix welcomes WBDs decision, with Ted Sarandos stating their merger agreement is superior. Paramount and Larry Ellison to review WBDs rejection, potentially raising their offer.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.