00:00Warner Brothers Discovery has rejected Paramount Skydance's initial takeover offer of over $20 per share, as initially reported by Bloomberg News.
00:10Paramount, led by David Ellison, is considering increasing its offer, appealing directly to shareholders, or securing additional financial support.
00:19Bloomberg also mentioned that Paramount is in discussions with Apollo Global Management for backing its bid.
00:25Ellison assumed leadership of Paramount in August following an $8 billion merger with Skydance Media.
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