The board of Warner Bros. Discovery on Wednesday said it was recommending that shareholders reject the hostile takeover bid from Paramount Skydance and its controlling shareholders, the Ellison family.
The company’s board said in a statement that it determined the Paramount Skydance offer “is not in the best interests of WBD and its shareholders.”
The Warner Bros. board’s recommendation to shareholders effectively means Paramount’s offer is dead. Paramount could, however, return with a higher offer.
The vote is happening. The board is recommending the shareholders vote a certain way. The shareholders don’t have to take their recommendation (but usually do). This is usually how shareholder votes happen.
Trump will reject Netflix bid and force the sale to Paramount.
He hasn’t got the juice to do that anymore