Warner Bros. rejects takeover bid from Paramount, siding with Netflix’s offer

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.

Warner Bros.