Paramount Proxy Fight

Benzinga

Paramount Skydance launched a proxy fight and lawsuit as it pushes a $77.9 billion hostile bid for Warner Bros. Discovery, challenging Warner’s agreement with Netflix.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:03Paramount Skydance said Monday it plans to launch a proxy fight for board seats at Warner Brothers

00:07Discovery as it continues pushing a hostile bid for the company, according to the Wall Street

00:12Journal. Paramount also filed a lawsuit in Delaware seeking to force Warner to release

00:17more information about its merger agreement with Netflix. Paramount said its $77.9 billion offer

00:24for all of Warner is superior to Netflix's $72 billion deal. Warner rejected that claim

00:30and said its board unanimously concluded the Netflix deal is not inferior. Paramount said

00:36it plans to nominate its own director candidates ahead of Warner's annual shareholder meeting

00:40to ensure engagement with its offer if the current board does not. The tender offer expires

00:46January 21st, but may be extended. Both deals require regulatory approval.

00:51For all things money, visit Benzinga.com.

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