Paramount Steps Up Bid, Aims to Shake Up Warner Bros. Discovery Board
Paramount escalates its bid for Warner Bros. Discovery by announcing plans to nominate directors to WBD’s board and filing a lawsuit to obtain more information on Netflix’s higher-valued deal; Warner Bros. Discovery contends Netflix’s bid is superior for shareholders due to less debt, while Paramount seeks a bylaws change to require shareholder approval before breaking up the cable unit. The fight has spilled into political and regulatory arenas as it unfolds in boardrooms and courtrooms.
