LOS ANGELES (Jan 7): Warner Bros Discovery's board has unanimously turned down Paramount Skydance's latest attempt to acquire the studio, saying its revised US$108.4 billion (RM439.3 billion) hostile bid amounted to a risky leveraged buyout that investors should reject. In a letter to shareholders on Wednesday, Warner Bros' board said Paramount's offer hinges on "an extraordinary amount of debt financing" that heightens the risk of closing. Paramount and Netflix have been vying to win control of Warner Bros, and with it, its prized film and television studios and its extensive content library. The letter accompanied a 67-page amended merger filing where it laid out its case for rejecting Paramount's offer. Paramount offered "insufficient compensation" for the damage done to the studio's business, if the Paramount deal failed to close, Warner Bros said.

Source: The Edge Markets January 07, 2026 12:33 UTC