Warner Bros. Discovery, responding to Paramount Skydance‘s unsolicited takeover offer to acquire all of WBD’s outstanding stock for $30/share, said it will review the proposal and issue its decision within 10 business days.
For now, the WBD board “is not modifying its recommendation with respect to the agreement with Netflix,” the company said in a statement Monday. On Friday, WBD and Netflix announced a deal under which Netflix would buy Warner Bros.’s studio operations, HBO and HBO Max for $72 billion (with an enterprise value of $82.7 billion). Paramount’s hostile takeover bid, backed in part of three Arab sovereign
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