Warner Bros-Netflix deal: WBD wants Oracle founder’s backing

Warner Bros. Discovery (WBD) has rejected Paramount Skydance’s $108 billion hostile takeover bid, deeming it “misleading” and “inadequate.” WBD’s board urged shareholders to reject the offer, citing financial concerns and a lack of a personal guarantee from Larry Ellison. The company reiterated its preference for a merger agreement with Netflix, which it considers superior and more transparent.