Warner Bros. Discovery Shares Drop as Paramount Skydance Threatens Legal Action
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Warner Bros. Discovery shares fell over 2% premarket after Paramount Skydance threatened legal action over the company's board handling of takeover negotiations. Paramount Skydance accused Warner Bros. Discovery of favoring Netflix's proposal over their all-cash offer. Concerns include a potential conflict of interest between Warner Bros. Discovery CEO David Zaslav and Netflix chief Ted Sarandos. The lawsuit could challenge the bidding process's fairness, impacting merger talks and investor confidence.
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