Warner Bros. Discovery rejects Paramount Skydance takeover bid.

Warner Bros. Discovery’s board of directors rejected Paramount Skydance’s revised hostile bid, citing its inferior terms compared to the $82.7 billion merger agreement with Netflix. This marks the second rebuff from Warner Bros. Discovery towards Paramount Skydance’s acquisition attempts, highlighting concerns over costs, risks, and uncertainties. Netflix has submitted its Hart-Scott-Rodino filing for the merger, which includes acquiring Warner Bros. Discovery’s HBO network. The bid from Netflix includes $27.75 a share, while Paramount Skydance offers $30 a share for the entire acquisition, valued at approximately $108 billion.

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