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The Guardian - UK
The Guardian - UK
Business
Mark Sweney

Warner Bros reportedly poised to reject Paramount’s $108bn hostile takeover bid

Paramount Netflix WBD Larry Ellison David Ellison CNN HBO Oracle Warner Bros Discovery
A scene from The White Lotus.
A scene from The White Lotus, which is owned by Warner Bros Discovery through HBO. Photograph: Fabio Lovino/AP

Warner Bros Discovery is poised to tell shareholders to reject Paramount’s $108bn (£81bn) hostile bid, according to reports, clearing the way for Netflix to proceed with its buyout of the Hollywood film and TV group.

The board could announce a decision as early as Wednesday after Paramount Skydance – run by David Ellison and bankrolled by his billionaire father, Larry, who founded Oracle – went directly to shareholders with its rival offer almost two weeks ago.

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