Paramount Loses Bid to Fast Track WBD Disclosures on Netflix Deal
The Hollywood Reporter • • business
Key Points:
- A Delaware judge rejected Paramount's request to fast track a lawsuit demanding Warner Bros. Discovery disclose more details about its decision to favor Netflix’s $82.7 billion offer over Paramount’s $108.7 billion bid.
- Paramount CEO David Ellison is pursuing the lawsuit to pressure Warner Bros. Discovery into revealing its evaluation process, aiming to influence shareholders ahead of a potential proxy fight.
- Warner Bros. Discovery has dismissed Paramount’s lawsuit as a distraction and maintains that Netflix’s offer is superior due to lower regulatory risk and better strategic fit.
- Paramount argues that Warner Bros. Discovery’s board has withheld critical information about the valuation formulas used to compare the bids, suggesting the math may not support the board’s preference for Netflix.
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