Warner Bros. Discovery (WBD) has formally rejected a $108 billion hostile takeover bid from David Ellison’s Paramount Skydance, describing the offer as “illusory” and accusing Paramount of misleading shareholders over the strength of its financing. In a letter addressed to shareholders, WBD’s board of directors said the proposal was inferior to its existing agreement with … Continue reading Warner Bros. Discovery Rejects Paramount’s $108bn Takeover Bid