Warner Bros. Discovery unanimously says no to Paramount. Netflix will get it

The media company Warner Bros. Discovery said Wednesday that its board of directors unanimously rejected a revised takeover offer from Paramount Skydance and reaffirmed its support for Netflix's proposal to purchase some of its assets.

The company said in a letter to shareholders that its board met Tuesday to discuss a new offer from Paramount Skydance, but it was rejected. As explained, Paramount's proposed acquisition of Skydance would be partially financed by borrowing, which poses a greater risk to WBD than Netflix's offer. (PAP)

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