Warner Bros. Slams Paramount's Motion To Expedite As Court Hearing Set
Deadline • • business
Key Points:
- Warner Bros. Discovery (WBD) dismissed Paramount’s request for an expedited trial in Delaware Chancery Court as unnecessary urgency, arguing Paramount is the party pushing shareholders to act quickly with its hostile tender offer.
- Paramount seeks more disclosure from WBD to enable shareholders to make an informed decision on whether to tender their shares before its January 21 deadline, while WBD maintains it will provide detailed information in an upcoming merger proxy supporting the Netflix deal.
- WBD accused Paramount of using the court to gain undue access to board deliberations during an ongoing contest for control, calling the motion premature and suggesting it should wait until after the Netflix merger proxy is filed.
- The Delaware court scheduled a hearing for Thursday to consider Paramount’s motion to expedite,
