Paramount Skydance sues Warner Bros. Discovery in hostile takeover attempt
Source: CNBC
Published Mon, Jan 12 2026 9:15 AM EST Updated 59 Min Ago
Paramount Skydance is suing Warner Bros. Discovery and CEO David Zaslav as its latest step in a hostile pursuit to acquire WBD, CEO David Ellison outlined in a letter to WBD shareholders on Monday. The lawsuit asks a Delaware court to direct Warner Bros. Discovery to provide information about its sale process and pending deal with Netflix
“WBD has failed to include any disclosure about how it valued the Global Networks stub equity, how it valued the overall Netflix transaction, how the purchase price reduction for debt works in the Netflix transaction, or even what the basis is for its ‘risk adjustment’ of our $30 per share all-cash offer,” Ellison said in the letter on Monday.
“We filed suit this morning in Delaware Chancery Court to ask the court to simply direct WBD to provide this information so that WBD shareholders have what they need to be able to make an informed decision as to whether to tender their shares into our offer,” Ellison said.
Ellison also informed WBD shareholders on Monday that Paramount intends to nominate directors for election to WBD’s board at the company’s 2026 annual meeting, in a move that would add a proxy fight to the equation.
Read more: https://www.cnbc.com/2026/01/12/paramount-skydance-warner-bros-discovery-suit.html
They obviously measured and bought the drapes, the furniture, and probably started contracts with "replacement" personnel for... drum roll... CNN. THAT is what they want and WB wants them spun off to fend for itself.
Article updated.
Previous article/headline -
Paramount Skydance has filed a lawsuit seeking more information from Warner Bros. Discovery as it continues to push its hostile offer to take over the media and entertainment company.
In a letter to WBD shareholders on Monday Paramount CEO David Ellison said a lawsuit was filed in the Delaware Chancery Court asking the court "to simply direct WBD to provide this information so that WBD shareholders have what they need to be able to make an informed decision as to whether to tender their shares into our offer." The lawsuit comes less than a week after WBD's board once again recommended that shareholders reject Paramount's latest amended offer.
Warner Bros. Discovery last month agreed to sell its streaming and studio business to Netflix for $72 billion. The proposed deal was the result of a sale process in which Paramount was bidding for all of WBD's assets, including its portfolio of cable TV channels, known as Discovery Global.
As part of the Netflix deal Warner Bros. Discovery plans to separate Discovery Global into its own publicly traded entity.
Original article/headline -
Published Mon, Jan 12 2026 9:15 AM EST
This is breaking news. Please refresh for updates.
= new reply since forum marked as read
