Warner Bros. Discovery Rejects Paramount’s Hostile Bid, Calls Offer ‘Illusory’

Warner Bros. Discovery Rejects Paramount’s Hostile Bid, Calls Offer ‘Illusory’

Warner Bros. Discovery rejects Paramount bid, shutting down speculation around a blockbuster media takeover and reaffirming its commitment to a previously announced Netflix merger. The decision answers key questions investors have been asking: why the board dismissed a $108 billion offer, whether financing was credible, and what deal truly maximizes shareholder value. Within days of the hostile approach becoming public, WBD’s board made its position clear, calling the Paramount Skydance proposal “illusory” and fundamentally misleading. The rejection signals confidence in Netflix’s binding offer and sets the stage for a high-stakes standoff among Hollywood’s biggest players. Credit: Victor J. Blue/Bloomberg / Getty Images Warner Bros. Discovery Rejects Paramount Bid as “Illusory” Warner Bros. Discovery rejects Paramount bid after what the board described as a careful and exhaustive review of the proposal’s terms and financing claims. In a formal letter to shareholders, directors said Para…