In a dramatic escalation of Hollywood’s latest takeover brawl, Paramount Skydance said Monday it will launch a proxy fight at Warner Bros. Discovery and sue in Delaware to pry loose more details about the company’s pending deal with Netflix—moves aimed at derailing that transaction and advancing its own hostile, all‑cash offer.
Paramount Skydance plans to nominate its own slate of directors for election at Warner Bros. Discovery’s 2026 annual meeting and to urge shareholders to vote against the Netflix agreement if WBD calls a special or early meeting to approve it. The strategy is designed to reshape the board that twice rejected Paramount’s bid and to rally investors behind a rival deal Ellison insists is superior on both value and risk.
