WARNER BROS. PLANS TO REJECT PARAMOUNT BID ON FUNDING, TERMS

Summary from the TLDR newsletter

Warner Bros. plans to reject Paramount's hostile takeover bid due to concerns about financing and other terms. The board will urge shareholders to reject the tender offer. It views the company's existing agreement with Netflix as offering greater value, certainty, and terms than what Paramount has proposed. While Warner Bros.' agreement with Netflix bars it from soliciting proposals from other bidders, it is allowed to entertain incoming proposals.