WASHINGTON (dpa-AFX) - Paramount Skydance has formally questioned the integrity of Warner Bros. Discovery's (WBD) ongoing asset sale, raising concerns that the process may be tilted in favor of Netflix. In a letter to Warner Bros. Discovery's CEO David Zaslav, Paramount criticized what it described as a 'predetermined outcome' that undermines shareholder interests.
Reports have suggested that Warner Bros. Discovery's management views a deal with Netflix as a 'slam dunk,' while showing less enthusiasm for Paramount's bid. The letter also pointed to potential conflicts of interest within WBD's leadership, citing executive incentives and director bias that could influence the outcome.
Paramount further highlighted a report of WBD executives meeting with European regulators, where concerns were raised about media concentration if Paramount were to acquire WBD. The company argued that such actions reflect resistance to its offer.
To restore confidence in the process, Paramount urged WBD to appoint an independent special committee of disinterested board members to oversee the sale. Despite its objections, Paramount reaffirmed belief that its proposal offers maximum value to WBD shareholders, but insisted that fairness and transparency must be guaranteed.
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