Paramount has filed a lawsuit against Warner Bros. Discovery in Delaware Chancery Court, escalating its hostile takeover effort and threatening a proxy fight for control of the media company.
Paramount CEO David Ellison accused WBD of lacking transparency in favoring Netflix’s $27.75 per share bid for Warner Bros. and HBO over Paramount’s $30 per share all cash offer.
Paramount is seeking court ordered disclosures to help shareholders assess the competing proposals.
Ellison said Paramount may nominate a new slate of board members if shareholders do not tender enough shares, aiming to force WBD to reconsider its deal with Netflix.
Paramount files lawsuit against Warner Bros. Discovery and threatens a proxy fight in its latest attempt to acquire the entertainment company. https://t.co/sq8UcbwroI
— CNN Breaking News (@cnnbrk) January 12, 2026
Warner Bros. Discovery has defended its decision, citing concerns over Paramount’s financing and the value of cable assets such as CNN, which are not included in the Netflix deal.
The dispute casts uncertainty over the future of the media empire as regulators review Netflix’s bid. President Donald Trump has said he will personally review any merger.
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TIPP Staff
TIPP Staff
