Warner Bros. CEO Tells Staff the Board Wants Higher Takeover Bid

Warner Bros. Discovery Inc. Chief Executive Officer David Zaslav hosted a town hall meeting for employees on Wednesday and said the board would need a higher bid to justify a sale of the company, according to people who heard his comments.

Zaslav told the staff that the board had rejected three offers from Paramount Skydance Corp., according to the people, who asked not to be identified as the remarks were private. Paramount’s latest offer, submitted earlier this month, was to acquire Warner Bros. for $23.50 per share, Bloomberg has reported.

In the meeting, Zaslav said Paramount CEO David ...