Paramount Skydance (PSKY) has filed a lawsuit to demand more information from Warner Bros. Discovery (WBD) as it continues to push forward with its hostile bid to acquire the media and entertainment company, according to trade media.
In a letter sent Monday to WBD shareholders, Paramount CEO David Ellison announced that a lawsuit has been filed in Delaware Chancery Court, asking the court to “order WBD to provide this information so that shareholders have what they need to make an informed decision on whether or not to accept our offer.”
Paramount Skydance lawsuit details
The lawsuit comes less than a week after WBD’s board of directors again recommended that shareholders reject Paramount’s latest amended offer.
Last month, Warner announced a deal with Netflix for the sale of its studio and streaming business, in a deal valued at about $72 billion in equity terms.
After the Netflix deal was made public, Paramount unveiled its hostile bid to take over Warner, reported Agencia EFE.
Find out more at ‘QueOnnda.com’.
