Warner Bros rejects takeover offer from Paramount, tells shareholders to stick with Netflix bid

NEW YORK (AP) — Warner Bros. again rejected Paramount’s latest takeover bid and told shareholders Wednesday to stick with a rival offer from Netflix.

Warner’s leadership has repeatedly rebuffed Skydance-owned Paramount’s overtures — and urged shareholders just weeks ago to back its the sale of its streaming and studio business to Netflix for $72 billion. Paramount, meanwhile, has sweetened its $77.9 billion offer for the entire company and gone straight to shareholders with a hostile bid.