Warner Bros asks investors to reject takeover bid from Paramount Skydance

NEW YORK: Warner Bros. is telling shareholders to reject a takeover bid from Paramount Skydance, saying that a rival bid from Netflix will be better for customers.

“The Board reviewed Paramount Skydance’s most recent unsolicited tender offer with the same care and discipline it has applied throughout this process, including its review of multiple prior proposals,” Warner Bros. said Wednesday. “The Board’s evaluation followed a thorough and consistent process and is grounded in its fiduciary duties.”