WBD presented a chronology of events and meetings that occurred, leading to its deal to sell Warner Bros. studios and HBO Max to Netflix, following by David Ellison’s hostile takeover bid and the WBD board’s official rejection of the $30/share bid on Dec.

The battle for Warner Bros. Discovery spilled onto pages full of revelations big and small Wednesday, as the media giant defended the process of selecting Netflix as the winner in its auction. Company disclosures and a letter to shareholders from the board of directors explained the reasoning behind discarding Paramount as well as Comcast and

The hostile offer may outmuscle Netflix on price, but WBD’s decision hinges on competing futures: a clean reset under Paramount or a deeper strategic alignment with the world’s dominant streamer.

Reps. Sam Liccardo (D-Calif.) and Ayanna Pressley (D-Mass.) sent letter to board of WBD as well as to Treasury Secretary Scott Bessent on Wednesday.

Paramount is standing by its current proposal to acquire Warner Bros. Discovery, warning shareholders that embracing Netflix’s offer would saddle them with a “heavily indebted, sub-scale linear business.

Warner Bros. Discovery's cable networks like CNN and TBS are not worth as much as the company's deal with Netflix implies, Paramount claims.

Posting to his Truth Social account Tuesday, the president made it clear that the Ellisons are no friends of his. The family, who led Paramount to become the newest owners of CBS, have been pushing for a hostile takeover of WBD as Netflix nears closing a deal for the company's streaming and studios assets.

Photos of Netflix's Ted Sarandos & Greg Peters on the Warner Bros lot sure look like guys about to handed the keys to a iconic kingdom