Warner Bros. Discovery Rejects Paramount’s $108 Billion Hostile Bid, Citing “Significant Risks”
The board of Warner Bros. Discovery officially rejected David Ellison‘s $30 per share hostile bid for the company, telling shareholders that it remains “inferior” to the Netflix deal, and carries “numerous significant risks and costs on WBD.” With the rejection official, Paramount will need to persuade WBD shareholders to tender their shares at that price,…