Lawsuit Filed
Paramount Skydance filed a lawsuit seeking financial details about Warner Bros. Discovery’s agreement with Netflix.
Context
In December, Warner Bros. agreed to sell its studio and streaming business to Netflix for $82.7B. Paramount has pursued Warner Bros. Discovery for four months with multiple offers – including a $108B all-cash offer for the entire company – but the Warner Bros. board has rejected them.
Lawsuit and Board Challenge
On Monday, Paramount filed a lawsuit in a Delaware court demanding Warner Bros. disclose how it determined Netflix’s offer was better than Paramount’s.
