"Along with the WBD shareholders, we have asked for the customary financial disclosure a board is supposed to provide shareholders when making an investment recommendation...WBD has failed to include any disclosure about how it valued the overall Netflix transaction, how the purchase price reduction for debt works in the Netflix transaction, or even what the basis is for its 'risk adjustment' of our $30 per share all-cash offer. WBD shareholders need this information to make an informed investment decision on our offer,"
"Last week, WBD's board rejected Paramount's latest bid once again, saying there's too much risk of the deal falling through. President Trump also expressed his dissatisfaction with the merger. Over the weekend, Trump shared on Truth Social an opinion piece by John Pierce titled "Stop the Netflix Cultural Takeover," published in One America News last month."
Paramount filed a lawsuit in the Delaware Chancery Court seeking detailed financial disclosure from Warner Bros. Discovery about Netflix's $82.7 billion acquisition. Paramount demands information on how WBD valued the Netflix transaction, how the purchase price reduction for debt is handled, and the basis for any 'risk adjustment' applied to Paramount's $30 per share all-cash offer. Paramount argues shareholders need these disclosures to evaluate competing proposals. WBD's board previously rejected Paramount's bid, citing high risk the deal could fail. Public figures also expressed opposition, raising broader concerns about media consolidation and cultural influence.
Read at TechCrunch
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