Paramount Calls Warner Bros. Sale ‘Tainted’ in Letter to CEO (1)

Paramount Skydance Corp. said Warner Bros.Discovery Inc. isn’t being fair in its process to sell itself and isn’t acting in shareholders’ best interests, as a competitive bidding process is underway.

In a letter to Warner Bros. Chief Executive Officer David Zaslav, attorneys for Paramount said the entertainment giant is favoring a rival bid from Netflix Inc., even after Paramount has submitted five offers.

“It has become increasingly clear, through media reporting and otherwise, that WBD appears to have abandoned the semblance and reality of a fair transaction process, thereby abdicating its duties to stockholders, and embarked on ...