Warner Bros. Discovery Aktie News

Tom Rogers looks at how much the takeover of Warner Bros. matters to TV viewers, policy makers, Hollywood and shareholders.

The chatter comes as the brain trust at Paramount Skydance – run by Hollywood director David Ellison and his mega billionaire father Larry Ellison – announced they are launching a proxy fight for control of the board and filing a lawsuit in Delaware.

Paramount has sued Warner Bros. Discovery seeking specific numbers and calculations the board used to rebuff its $30 a share cash offer in favor of a deal with Netflix, claiming WBD advised shareholders to reject its tender offer “without disclosing basic, fundamental pieces of information.

Paramount says it is suing Warner Bros. Discovery and filing a competing slate of directors in an effort to get the Warner board to take its offer to acquire the company seriously.

Paramount accused WBD's board of breaching fiduciary duties by refusing to engage with what it calls a financially superior proposal.

As two major streaming platforms—Warner Bros. and Netflix—prepare for a merger, concerns continue to be voiced about the implications of the deal, which represents more consolidation in the media business.

Paramount said Monday it would push forward with its hostile bid for Warner Bros. Discovery by nominating directors to the WBD board that would engage with Paramount's offer, while also filing a lawsuit against the company to force it to disclose information about Netflix's offer.

Paramount also files lawsuit seeking disclosure of financial information related to $82.7bn agreement