Warner Bros rejects Paramount’s ‘inferior’ US$108 billion bid, backs Netflix deal

Warner Bros Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to thwart plans by streaming giant Netflix to acquire the Hollywood giant and owner of CNN. The Warner Bros board said it found Paramount’s offer “inferior” to the merger agreement with Netflix. It added that the Paramount bid “once again fails to address key concerns that we have consistently communicated … throughout our extensive engagement and review of their six previous proposals”. “We are...