Is Warner Bros planning to reject Paramount's $108 billion hostile bid?

Paramount and Netflix are engaged in a cold war to acquire Warner Bros. Discovery, one of the world's oldest studios and home to several iconic characters, movies, and television shows. After Paramount's hostile bid worth $108.4 billion to acquire Warner Bros. Discovery, it has now been learned that the studio is apparently not interested in the deal.

A full-blown bidding war erupted after Paramount made an all-cash offer to acquire the studio. This came after Netflix and Warner Bros. announced a historic $82.7 billion deal. As the bidding war continues and curiosity grows over which company Warner Bros. Discovery Inc. will side with, Bloomberg has learned that the studio plans to reject Paramount Skydance Corp.'s hostile takeover bid due to concerns about financing and other terms.

It has also been learned that Warner Bros.' board will urge shareholders to reject the tender offer. In contrast, regarding Netflix's deal, the board reportedly views the existing agreement with the streaming giant as offering "greater value, certainty, and terms" as when compared to what Paramount has proposed.

Sources told Bloomberg that Warner Bros. is expected to file its response against Paramount's large cash offer as early as Wednesday. However, as of now no final decision has been made and the situation remains fluid. (Agencies)

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