{"id":33023,"date":"2026-01-07T17:44:25","date_gmt":"2026-01-07T22:44:25","guid":{"rendered":"https:\/\/cinemadailyus.com\/?p=33023"},"modified":"2026-01-07T17:44:25","modified_gmt":"2026-01-07T22:44:25","slug":"warners-board-again-urges-shareholders-to-reject-paramounts-hostile-takeover-bid","status":"publish","type":"post","link":"https:\/\/cinemadailyus.com\/?p=33023","title":{"rendered":"Warner’s Board Again Urges Shareholders to Reject Paramount’s Hostile-Takeover Bid"},"content":{"rendered":"\r\n

The drama over Paramount Skydance<\/a>\u2019s hostile takeover bid for Warner Bros. Discovery<\/a> continues. On Wednesday, the WBD board again unanimously recommended that its shareholders reject Paramount\u2019s offer on the grounds that it was \u201cinferior\u201d to the Netflix deal.<\/p>\r\n

On Wednesday morning, WBD\u2019s board chair Samuel Di Piazza<\/a> was quoted by CNBC as saying; \u201cWe have a signed merger agreement with Netflix, it\u2019s a compelling value, a clear path to closing and protections for our shareholders if something stops the close, whatever that might be.\u201d

When the Netflix deal was announced, PSKY made an offer to WBD shareholders to pay $30 a share in cash for all its assets, including its television networks. Around Christmas, PSKY sweetened the offer by announcing that it had secured the backing of Larry Ellison, the billionaire father of its CEO David Ellison<\/a>.

In its most recent letter to its shareholders, the WBD board stated in part: \u201cPSKY has repeatedly failed to submit the best proposal for WBD shareholders despite clear direction from WBD on both the deficiencies and potential solutions.\u201d The letter went on to say that \u201cThe WBD Board, management team and our advisors have extensively engaged with PSKY representatives and provided it with explicit instructions on how to improve each of its offers. Yet PSKY has continued to submit offers that still include many of the deficiencies we previously repeatedly identified to PSKY, none of which are present in the Netflix merger agreement, all while asserting that its offers do not represent its \u2018best and final\u2019 proposal.<\/p>\r\n

Pentwater Capital Management, which is WBD\u2019s seventh largest shareholder, got into the act when its CEO Matthew Halbower<\/a> told the WBD board that it erred in not considering Paramount\u2019s revised offer. He said that Paramount\u2019s $30-per-share offer was both \u201ceconomically superior\u201d and \u201csuperior in terms of regulatory risk.\u201d<\/p>\r\n

Halbower argued that the WBD board had \u201cbreached its fiduciary obligations\u201d to its shareholders. \u201cIf Paramount goes away, then it is a lost opportunity,\u201d he stated.

But the WBD board is sticking to its guns in recommending a rejection of Paramount\u2019s offer. As its letter to shareholders concluded: \u201cYour Board negotiated a merger with Netflix that maximizes value while mitigating downside risks, and we unanimously believe the Netflix merger is in your best interest. We are focused on advancing the Netflix merger to deliver its compelling value to you.\u201d

Check out other articles by Edward<\/p>\r\n","protected":false},"excerpt":{"rendered":"

The drama over Paramount Skydance\u2019s hostile takeover bid for Warner Bros. Discovery continues. On Wednesday, the WBD board again unanimously recommended that its shareholders reject Paramount\u2019s offer on the grounds that it was \u201cinferior\u201d to the Netflix deal. On Wednesday morning, WBD\u2019s board chair Samuel Di Piazza was quoted by CNBC as saying; \u201cWe have…<\/p>\n","protected":false},"author":3,"featured_media":33037,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[32],"tags":[1478,29431,29430,92,28420,29429,29432,9425],"acf":[],"yoast_head":"\nWarner's Board Again Urges Shareholders to Reject Paramount's Hostile-Takeover Bid | Cinema Daily US<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cinemadailyus.com\/?p=33023\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Warner's Board Again Urges Shareholders to Reject Paramount's Hostile-Takeover Bid | Cinema Daily US\" \/>\n<meta property=\"og:description\" content=\"The drama over Paramount Skydance\u2019s hostile takeover bid for Warner Bros. Discovery continues. On Wednesday, the WBD board again unanimously recommended that its shareholders reject Paramount\u2019s offer on the grounds that it was \u201cinferior\u201d to the Netflix deal. On Wednesday morning, WBD\u2019s board chair Samuel Di Piazza was quoted by CNBC as saying; \u201cWe have...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cinemadailyus.com\/?p=33023\" \/>\n<meta property=\"og:site_name\" content=\"Cinema Daily US\" \/>\n<meta property=\"article:published_time\" content=\"2026-01-07T22:44:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Edward Moran\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Edward Moran\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/cinemadailyus.com\/?p=33023\",\"url\":\"https:\/\/cinemadailyus.com\/?p=33023\",\"name\":\"Warner's Board Again Urges Shareholders to Reject Paramount's Hostile-Takeover Bid | Cinema Daily US\",\"isPartOf\":{\"@id\":\"https:\/\/cinemadailyus.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/cinemadailyus.com\/?p=33023#primaryimage\"},\"image\":{\"@id\":\"https:\/\/cinemadailyus.com\/?p=33023#primaryimage\"},\"thumbnailUrl\":\"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp\",\"datePublished\":\"2026-01-07T22:44:25+00:00\",\"dateModified\":\"2026-01-07T22:44:25+00:00\",\"author\":{\"@id\":\"https:\/\/cinemadailyus.com\/#\/schema\/person\/8bf0a19223aa026749c276918426a5bc\"},\"breadcrumb\":{\"@id\":\"https:\/\/cinemadailyus.com\/?p=33023#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/cinemadailyus.com\/?p=33023\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cinemadailyus.com\/?p=33023#primaryimage\",\"url\":\"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp\",\"contentUrl\":\"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp\",\"width\":1200,\"height\":630},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/cinemadailyus.com\/?p=33023#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/cinemadailyus.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Warner’s Board Again Urges Shareholders to Reject Paramount’s Hostile-Takeover Bid\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/cinemadailyus.com\/#website\",\"url\":\"https:\/\/cinemadailyus.com\/\",\"name\":\"Cinema Daily US\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/cinemadailyus.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/cinemadailyus.com\/#\/schema\/person\/8bf0a19223aa026749c276918426a5bc\",\"name\":\"Edward Moran\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/cinemadailyus.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2021\/02\/Edward-Moran-150x150.jpg\",\"contentUrl\":\"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2021\/02\/Edward-Moran-150x150.jpg\",\"caption\":\"Edward Moran\"},\"description\":\"Edward Moran began his journalistic career many decades ago as a theater and cinema reviewer for Show Business and the New York Theater Review. More recently he contributed film reviews to hosokinema.com and Movie Sleuth. His writings have appeared in publications as diverse as the Times Literary Supplement, Publishers Weekly, the Paris Review, and the Massachusetts Review. Moran also edited a memoir by Oscar-nominated documentary filmmaker Christine Choy. He served as literary advisor to her film Hyam Plutzik: American Poet, which was the keynote film in the American Perspectives series at the 2007 Zebra Poetry Film Festival in Berlin.\",\"sameAs\":[\"https:\/\/www.cinemadailyus.com\"],\"url\":\"https:\/\/cinemadailyus.com\/?author=3\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Warner's Board Again Urges Shareholders to Reject Paramount's Hostile-Takeover Bid | Cinema Daily US","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cinemadailyus.com\/?p=33023","og_locale":"en_US","og_type":"article","og_title":"Warner's Board Again Urges Shareholders to Reject Paramount's Hostile-Takeover Bid | Cinema Daily US","og_description":"The drama over Paramount Skydance\u2019s hostile takeover bid for Warner Bros. Discovery continues. On Wednesday, the WBD board again unanimously recommended that its shareholders reject Paramount\u2019s offer on the grounds that it was \u201cinferior\u201d to the Netflix deal. On Wednesday morning, WBD\u2019s board chair Samuel Di Piazza was quoted by CNBC as saying; \u201cWe have...","og_url":"https:\/\/cinemadailyus.com\/?p=33023","og_site_name":"Cinema Daily US","article_published_time":"2026-01-07T22:44:25+00:00","og_image":[{"width":1200,"height":630,"url":"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp","type":"image\/webp"}],"author":"Edward Moran","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Edward Moran","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/cinemadailyus.com\/?p=33023","url":"https:\/\/cinemadailyus.com\/?p=33023","name":"Warner's Board Again Urges Shareholders to Reject Paramount's Hostile-Takeover Bid | Cinema Daily US","isPartOf":{"@id":"https:\/\/cinemadailyus.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cinemadailyus.com\/?p=33023#primaryimage"},"image":{"@id":"https:\/\/cinemadailyus.com\/?p=33023#primaryimage"},"thumbnailUrl":"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp","datePublished":"2026-01-07T22:44:25+00:00","dateModified":"2026-01-07T22:44:25+00:00","author":{"@id":"https:\/\/cinemadailyus.com\/#\/schema\/person\/8bf0a19223aa026749c276918426a5bc"},"breadcrumb":{"@id":"https:\/\/cinemadailyus.com\/?p=33023#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cinemadailyus.com\/?p=33023"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cinemadailyus.com\/?p=33023#primaryimage","url":"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp","contentUrl":"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2026\/01\/paramount-warner-bros.webp","width":1200,"height":630},{"@type":"BreadcrumbList","@id":"https:\/\/cinemadailyus.com\/?p=33023#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cinemadailyus.com\/"},{"@type":"ListItem","position":2,"name":"Warner’s Board Again Urges Shareholders to Reject Paramount’s Hostile-Takeover Bid"}]},{"@type":"WebSite","@id":"https:\/\/cinemadailyus.com\/#website","url":"https:\/\/cinemadailyus.com\/","name":"Cinema Daily US","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cinemadailyus.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/cinemadailyus.com\/#\/schema\/person\/8bf0a19223aa026749c276918426a5bc","name":"Edward Moran","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/cinemadailyus.com\/#\/schema\/person\/image\/","url":"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2021\/02\/Edward-Moran-150x150.jpg","contentUrl":"https:\/\/cinemadailyus.com\/wp-content\/uploads\/2021\/02\/Edward-Moran-150x150.jpg","caption":"Edward Moran"},"description":"Edward Moran began his journalistic career many decades ago as a theater and cinema reviewer for Show Business and the New York Theater Review. More recently he contributed film reviews to hosokinema.com and Movie Sleuth. His writings have appeared in publications as diverse as the Times Literary Supplement, Publishers Weekly, the Paris Review, and the Massachusetts Review. Moran also edited a memoir by Oscar-nominated documentary filmmaker Christine Choy. He served as literary advisor to her film Hyam Plutzik: American Poet, which was the keynote film in the American Perspectives series at the 2007 Zebra Poetry Film Festival in Berlin.","sameAs":["https:\/\/www.cinemadailyus.com"],"url":"https:\/\/cinemadailyus.com\/?author=3"}]}},"_links":{"self":[{"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=\/wp\/v2\/posts\/33023"}],"collection":[{"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33023"}],"version-history":[{"count":0,"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=\/wp\/v2\/posts\/33023\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=\/wp\/v2\/media\/33037"}],"wp:attachment":[{"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33023"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33023"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cinemadailyus.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33023"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}