Paramount's Bid for Warner Bros. Faces Legal and Boardroom Challenges Amid Netflix Competition

Paramount Skydance Corp. is engaged in a competitive takeover battle with Netflix over Warner Bros. Discovery. Paramount's $30-per-share all-cash bid has been rejected in favor of Netflix's $82.7 billion stock-and-cash offer. A Delaware judge declined to expedite Paramount's lawsuit seeking more financial details about the Netflix deal, citing lack of irreparable harm. Paramount has also appointed a new CFO and plans to nominate directors to Warner Bros.' board to increase pressure amid the ongoing contest.