Business Mergers And Acquisitions News

Paramount Skydance Moves to Block Netflix-WBD Deal via Proxy Fight

Paramount Skydance said it will nominate directors to Warner Bros Discovery’s board to vote against the Netflix deal, launch a proxy fight, and seek disclosure of financial details to help shareholders decide. It also plans to amend WBD bylaws to require shareholder approval for the global networks spin-off and argues its own $30-a-share cash offer plus a larger termination fee is more favorable; Netflix would gain control of key assets under an $82.7 billion deal, while WBD faces potentially costly outcomes if Paramount’s bid or any breakup terms are activated.