Paramount Skydance plans to launch a proxy fight for board seats at Warner Bros. Discovery, the company said Monday, as it continues pushing its hostile bid for the company.
Paramount also filed a lawsuit seeking to force Warner to release more information about its merger agreement with Netflix. Paramount has long argued its offer, which Warner repeatedly rebuffed, is superior in value to Netflix’s.
Warner “has provided increasingly novel reasons for avoiding a transaction with Paramount, but what it has never said, because it cannot, is that the Netflix transaction is financially superior to our actual offer,” Paramount said.
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