The Fight For Warner Bros. May Get Uglier
The Hollywood Reporter • • general
Key Points:
- Paramount CEO David Ellison is aggressively pursuing a takeover of Warner Bros. Discovery (WBD), which recently agreed to be acquired by Netflix, by launching a lawsuit and threatening a proxy fight to force WBD’s board to engage or reveal details of the Netflix deal.
- Paramount’s legal action and proxy fight threat aim to sway shareholders and potentially block the Netflix acquisition, with influential investors like Mario Gabelli signaling support for Paramount’s bid, while Netflix is reportedly considering revising its offer to counter the pressure.
- A proxy fight, if it occurs, would be one of the most high-profile and costly in entertainment history, involving intense public and investor scrutiny, significant legal expenses, and senior executives dedicating full time to the battle.
- The conflict
