Warner’s board said that Paramount had “consistently misled” shareholders by claiming that its offer had been fully backstopped by the Ellison family.

Warner Bros. Discovery rejected the $30/share takeover bid from David Ellison's Paramount Skydance, with WBD unanimously backing the deal with Netflix.

Several Hollywood unions, including the Writers Guild of America and Teamsters, have expressed serious concerns over a potential sale of Warner Bros. Discovery or its assets to Netflix or Paramount.

While these issues are no doubt important, one aspect of the Netflix deal has been relatively overlooked: the streamer’s decision to cut out Discovery’s portfolio of cable channels from its agreed acq

We haven’t prioritized theatrical in the past because that wasn’t our business at Netflix. When this deal closes, we will be in that business.”

Netflix CEOs call the Warner Bros. acquisition a win, but analysts warn of risks as investors question the $83B deal and Paramount looms.

Hollywood has unleashed a wave of fear that the Netflix acquisition of Warner Bros will further erode the struggling movie business

Warner Bros. Discovery went on the attack against Larry and David Ellison on Wednesday, urging shareholders to reject their hostile takeover offer and saying the Ellisons have “consistently misled” them.

Netflix Co-CEOs Greg Peters and Ted Sarandos call their pending $83B acquisition of Warner Bros. "a win for the entertainment business."

Paramount Skydance launched a hostile bid worth $108.4 billion for Warner Bros Discovery , challenging a rival offer from Netflix and injecting uncertainty into the future of Hollywood's storied media company.