Paramount claims its $108.7 billion all-cash offer, valued at $30 per share, is better than Netflix’s $27.75-per-share cash-and-stock proposal|Clcaesar|CC BY-SA 4.0
Paramount Skydance stepped up its takeover fight on Monday by suing Warner Bros. Discovery (WBD) and CEO David Zaslav, saying shareholders deserve more clarity about the company’s $82.7 billion merger deal with Netflix.
It argues that WBD has failed to explain how it valued its assets clearly, managed debt reductions, or assessed risks when comparing deals.
Paramount claims its $108.7 billion all-cash offer, valued at $30 per share, is better than Netflix’s $27.75-per-share cash-and-stock proposal for the studios and streaming business.
The David Ellison company also claims the Netflix deal depends on separating Warner’s cable TV unit, which it views as weak and risky. It plans to nominate directors at WBD’s 2026 annual meeting, signaling a proxy fight.
WBD dismissed the lawsuit as meritless and again urged shareholders to reject Paramount’s bid in favor of the Netflix deal.
Paramount said investors need clear information before its offer expires on January 21.