Paramount Skydance Sues Warner Bros. Discovery, Escalating Takeover Battle

• Paramount Skydance has filed a lawsuit against Warner Bros. Discovery in Delaware, intensifying its hostile takeover bid.
• The lawsuit accuses Warner Bros. Discovery and CEO David Zaslav of insufficient disclosure regarding the company's sale process and Netflix deal terms.
• Paramount Skydance seeks additional disclosures, arguing investors need more information to evaluate its all-cash offer fairly.
• David Ellison, Paramount Skydance CEO, demands transparency on the valuation of Global Networks, Netflix transaction pricing, and debt adjustments.
• Warner Bros. Discovery's board reiterated its rejection of Paramount's revised proposal, which did not increase the purchase price.

Why It Matters: Paramount Skydance sues Warner Bros. Discovery for lack of transparency amid an escalating takeover battle.