Judge Rejects Paramount Motion to Expedite WBD Trial Seeking Details on Netflix Deal
Variety • • business
Key Points:
- Delaware Chancery Court judge Morgan T. Zurn dismissed Paramount Skydance’s motion to expedite its lawsuit against Warner Bros. Discovery (WBD), ruling that Paramount failed to demonstrate it would suffer irreparable harm from WBD’s alleged lack of financial disclosures.
- Paramount is seeking detailed information on WBD’s valuation of the Netflix deal and the proposed Discovery Global networks spin-off, as part of its hostile takeover bid offering $30 per share, which it argues is superior to Netflix’s $27.75 per share agreement.
- Warner Bros. Discovery criticized Paramount’s lawsuit as a distraction and maintained that its board unanimously concluded the Netflix merger agreement is superior to Paramount’s offer.
- Paramount plans to launch a proxy battle by nominating directors for
