Warner Bros reportedly sides with Netflix, likely to reject $108.4 billion Paramount bid

Warner Bros. Discovery’s board is expected to make a decision soon on Paramount Skydance’s $108.4 billion takeover offer. According to sources, as reported by Reuters, the board will likely recommend that shareholders reject Paramount’s bid. Instead, Warner Bros. Discovery seems ready to continue supporting Netflix’s buyout offer, marking another major turn in the race for the company’s valuable assets. These assets include Warner Bros.’ famous film and TV studio and a huge content library with classics like Casablanca and Citizen Kane, as well as modern hits such as Harry Potter and Friends. The deal also includes HBO and the HBO Max streaming service, key pieces in the ongoing streaming wars.