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2 days agoParamount Not Giving Up On Buying Warner Bros., Launches Lawsuit
Paramount sued Warner Bros. Discovery to force disclosure of Netflix's bid and will seek to nominate directors, risking a proxy fight.
Paramount filed a lawsuit against Warner Bros Discovery on Monday, suing for disclosures and preparing a proxy fight as it seeks to derail the media group's proposed sale of its studio and streaming assets to Netflix. Filed in Delaware Chancery Court, the lawsuit asks the court to compel WBD to provide disclosure to enable WBD shareholders to make informed decision on tendering their shares before its offer expires on January 21.