Warner Bros Discovery is expected to recommend that shareholders vote against a hostile takeover bid from Paramount Global, according to reporting from several news outlets, dealing a blow to Paramount’s massive $108bn (€92.2bn) attempt to take over the rival studio. Euronews has reached out to Warner for further comment.
This comes after Paramount announced it was planning to go to Warner Bros' shareholders directly in early December with an all-cash $30 per-share offer — bypassing the board after the studio rejected several of its acquisition proposals. Netflix, on the other hand, is proposing $27.75 per share in cash and stock.
