Warner Bros Rejects Revised Paramount Bid, Sticks With Netflix

An anonymous reader quotes a report from Reuters: Warner Bros Discovery's board unanimously turned down Paramount Skydance's latest attempt to acquire the studio, saying its revised $108.4 billion hostile bid amounted to a risky leveraged buyout that investors should reject. In a letter to shareholders on Wednesday, Warner Bros' board said Paramount's offer hinges on "an extraordinary amount of debt financing" that heightens the risk of closing. It reaffirmed its commitment to streaming giant Ne