Paramount Skydance has sharply escalated its takeover fight for Warner Bros Discovery, telling shareholders it will nominate directors to the WBD board, oppose the company’s proposed merger with Netflix, and pursue legal action to force fuller disclosure around that deal.
The move follows months of spats between the largest media conglomerates in the US over one of Hollywood’s biggest groups, with shareholders caught between a fully financed all-cash offer from Paramount and a more complex merger structure from Netflix.
