WBD Rejects Paramount's Hostile Bid, Backs Netflix Deal Amid Financing Concerns

• Warner Bros. Discovery advises shareholders to reject Paramount Skydance's hostile takeover bid.
• WBD's board cites concerns over Paramount's financing, regulatory uncertainty, and the overall offer structure.
• Paramount's bid, backed by Larry Ellison's revocable trust, is deemed less certain than the existing Netflix agreement.
• Affinity Partners withdrew support, and Tencent funding was removed due to national security concerns.
• WBD must allow Netflix to match any superior offer, preserving their existing deal.

Why It Matters: WBD rejects Paramount's hostile bid due to financing and regulatory concerns, favoring its Netflix deal.