Paramount Skydance Sues Warner Bros Over Netflix Deal Data, Plans Board Nominations

• Paramount Skydance has sued Warner Bros Discovery (WBD) demanding more information on its $82.7 billion deal with Netflix.
• Paramount plans to nominate directors to WBD's board, asserting its $108.7 billion all-cash bid is superior to Netflix's cash-and-stock offer.
• WBD previously rejected Paramount's $108.4 billion hostile bid, deeming it 'inadequate' and a 'risky leveraged buyout'.
• WBD's board unanimously determined Paramount Skydance's offer was not in the best interests of shareholders and not a 'Superior Proposal' compared to Netflix's.
• Paramount filed the lawsuit in the Delaware Court of Chancery, seeking financial analysis behind WBD's support for the Netflix merger.

Why It Matters: Paramount Skydance escalates its bid for Warner Bros, suing for Netflix deal data and planning board nominations.