Warner Bros Discovery has told shareholders to reject a sweetened 108 billion US dollar (£80 billion) hostile bid from Paramount Skydance and to stick with a rival offer from Netflix.
Paramount, which is controlled by the Ellison family, last month lodged a 30 dollars (£22.50) a share bid for Warner Bros, days after the company agreed to be bought by Netflix in early December in a 72 billion dollar (£54 billion) deal, or 82.7 billion dollars (£62 billion) including debts.
