Source: Axios
“After numerous bid rejections, Paramount Skydance is officially waging a proxy fight against Warner Bros. Discovery’s board. Paramount has refused to increase the price of its offer for WBD, arguing its bid is financially superior to Netflix’s. It’s now become clear that it believes its best path to winning WBD is through legal pressure. Paramount on Monday sent a letter to WBD shareholders saying it intends to nominate directors for WBD’s board and that it filed a lawsuit to force the company to disclose ‘basic information” about the bidding process to enable shareholders to “to make an informed decision as to whether to tender their shares into our offer.'” (01/12/26)