Warner Bros Discovery make feelings clear on proposed takeover bids

• Warner Bros Discovery (WBD) has rejected a hostile takeover bid from rival Paramount Skydance, stating it favours a deal with streaming giant Netflix.
• The WBD board deemed Paramount's offer “inadequate” and a “significant risk” to shareholders, citing its failure to address key concerns.
• Paramount's bid valued WBD at $108.4 billion including debts, surpassing Netflix′s $72 billion offer for WBD's film and TV studios.
• Affinity Partners, the private equity firm owned by Jared Kushner, withdrew its financial backing from Paramount's bid.
• This withdrawal is seen as removing a potential advantage for Paramount in securing regulatory approval, following Mr. Trump's previous concerns about the Netflix deal's market share.

IN FULL

Warner Bros Discovery urges shareholders to reject Paramount takeover bid