Warner Bros. Discovery calls Paramount lawsuit "meritless"
AV Club • • business
Key Points:
- Paramount has filed a lawsuit seeking detailed disclosures from Warner Bros. Discovery (WBD) regarding the valuation of its Global Networks stub equity, the Netflix transaction, and the basis for WBD's risk adjustment of Paramount's $30 per share all-cash offer.
- The lawsuit aims to provide WBD shareholders with essential information to make informed decisions, while Paramount Skydance also announced plans to nominate directors for the WBD board in 2026, signaling a potential proxy fight.
- WBD responded by calling the lawsuit "meritless," accusing Paramount Skydance of failing to raise its offer or address deficiencies, and defending the board's unanimous decision that the Netflix merger agreement is superior.
- Netflix secured the acquisition of WBD's studio
