Warner Bros. Discovery Rejects Paramount $30/Share Acquisition Offer, Alleging Deal Financing Does Not Have ‘Full Backstop’ From Ellisons

Warner Bros. Discovery’s board has formally said “no thanks” to the $108 billion takeover bid from David Ellison’s Paramount Skydance and unanimously reiterated its support for the Netflix deal. Paramount and Ellison’s financial backers, which include his father, tech billionaire Larry Ellison, will now evaluate the rejection notice from WBD’s board of directors — and […]