Warner Bros. unimpressed by Paramount's "meritless lawsuit" over Netflix deal

Warner Bros. Discovery (WBD) has responded to a lawsuit filed by Paramount, calling it “meritless” and a distraction tactic. The lawsuit stems from Paramount’s failed attempt to acquire WBD before Netflix secured a deal to purchase the studio and its streaming properties for $82.7 billion. Paramount, through David Ellison’s Paramount Skydance, is seeking disclosure regarding WBD’s valuation of assets and the Netflix transaction, claiming shareholders need more information to make an informed decision.

WBD rejected Paramount’s offer, citing an inadequate price and “numerous and obvious deficiencies.” Instead of increasing the offer, Paramount filed a lawsuit in Delaware and announced plans to nominate directors to the WBD board at the 2026 shareholder meeting, initiating a proxy fight.

WBD strongly defended its board and the deal with Netflix, stating that Paramount Skydance has failed to present a superior offer and is attempting to “distract with a meritless lawsuit and attacks.” The company maintains that its board unanimously concluded the Netflix merger is the better option for shareholders.

(Source：Google News)