Warner Bros. chose Netflix over Paramount — again. Now what? [CNN]
Warner Bros. Discovery, Inc. - Series A (WBD)
Company Research
Source: CNN
But the battle is far from over . Let's break down what just happened and what to expect next. So, what just happened? Early Wednesday morning, Warner Bros. Discovery, CNN's parent company, published a letter to shareholders and an SEC filing , formally rejecting Paramount's latest offer for the entire company, deeming the hostile takeover bid “illusory.” The current deal to sell Warner's studios and streaming assets to Netflix, the board said, is still better for WBD shareholders. Why did WBD reject Paramount? Mostly, it's about money: The WBD board said Paramount's deal “provides inadequate value and imposes numerous, significant risks and costs on WBD.” But WBD also called Paramount's offer too risky. Its board wrote that Paramount had “consistently misled” WBD's shareholders by claiming its $30-per-share, all-cash offer was “backstopped” by Paramount CEO David Ellison and his father, Larry Ellison, the Oracle co-founder worth an estimated $240 billion. Meanwhile, in
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WBD
News
- Who matters in the battle for Warner Bros? [Yahoo! Finance]Yahoo! Finance
- Senators demand AG Pam Bondi recuse herself from Warner Bros. antitrust review [CNN]CNN
- Warner Bros. Discovery Rejects Paramount's $108 Billion Bid. Here's One Reason Why. [Yahoo! Finance]Yahoo! Finance
- $HAREHOLDER ALERT: The M&A Class Action Firm Launches Legal Inquiry for the Merger--AWK, SNDA, THS, and WBDPR Newswire
- Senators demand AG Pam Bondi recuse herself from Warner Bros. antitrust review [CNN]CNN
WBD
Earnings
- 11/6/25 - Miss
WBD
Sec Filings
- 12/17/25 - Form DFAN14A
- 12/17/25 - Form SC
- 12/17/25 - Form DFAN14A
- WBD's page on the SEC website