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Stock impact report

Paramount Goes Nuclear on Warner Bros. Discovery — and Everyone Will Feel the Pain | Analysis [Yahoo! Finance]

Warner Bros. Discovery, Inc. - Series A (WBD) 
Company Research Source: Yahoo! Finance
Even after eight rejections, Paramount CEO David Ellison remains undeterred in his mission to buy Warner Bros. Discovery. That obstinacy will lead to a lot of pain for all parties involved as the executive is taking his war with Netflix and WBD's board to court. Ellison filed a lawsuit in the Delaware Court of Chancery on Monday in an effort to extract more information about the Netflix deal's terms and math behind its value, and is threatening to replace Warner's board outright through a proxy battle. The plan? The Paramount Skydance CEO will try to sway shareholders to install a new slate of directors and make changes to the company's corporate bylaws, arguing the current board is not acting in the company's best interest by going with Netflix. But similar to Paramount's tender offer, which only garnered 400,000 shares as of Dec. 19 ahead of a Jan. 21 deadline, the nuclear option of a drawn-out legal challenge and proxy battle is a difficult one, experts told TheWrap. “It's a Show less Read more
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