The Warner Bros. Discovery board recommended that shareholders reject a hostile takeover offer from Paramount Skydance, saying it continued to believe the Paramount bid is “inferior” to a previously announced deal with Netflix.
“We have a signed merger agreement with Netflix, it’s a compelling value, a clear path to closing and protections for our shareholders if something stops the close, whatever that might be,” WBD board Chairman Samuel Di Piazza told CNBC’s David Faber on “Squawk Box” on Wednesday morning.
