Paramount's next target in hostile takeover bid of Warner Bros. is a board of its own making

1 week ago 6

Associated Press Finance

Mon, January 12, 2026 astatine 9:00 AM CST 1 min read

NEW YORK (AP) — Paramount Skydance is taking different measurement successful its hostile takeover bid of Warner Bros. Discovery, saying Monday that it volition sanction its ain slate of directors earlier the adjacent shareholder gathering of the Hollywood studio.

Paramount besides filed a suit successful Delaware Chancery Court seeking to compel Warner Bros. to disclose to shareholders however it values its bid and the competing connection from Netflix.

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Warner Bros. is successful the mediate of a bidding warfare betwixt Paramount and Netflix. Warner’s enactment has repeatedly rebuffed overtures from Skydance-owned Paramount — and urged shareholders to backmost the merchantability of its streaming and workplace concern to Netflix for $72 billion. Paramount, meanwhile, has made efforts to sweeten its $77.9 cardinal hostile connection for the full company.

Last week, Warner Bros. Discovery said its committee determined Paramount’s connection is not successful the champion interests of the institution oregon its shareholders. It again recommended shareholders enactment the Netflix deal.

David Ellison, the president and CEO of Paramount Skydance, said Monday that it's committed to seeing done its tender offer. “We bash not undertake immoderate of these actions lightly," helium said successful a missive to shareholders of Warner Bros.

Warner Bros. has yet to docket its yearly gathering oregon a peculiar gathering to see the Netflix offer, and Paramount did not sanction immoderate imaginable candidates for the board.