American multinational multimedia firm Paramount Skydance has filed a lawsuit against Warner Bros Discovery. Paramount is seeking more information about Warner Bros Discovery’s deal with OTT giant Netflix worth $82.7 billion, which is around Rs.7.46 lakh crore.
The company has also announced the nomination of directors to Warner’s board. The company says its $30 per share cash bid is better than Netflix’s $27.75 per share of cash and stock offer.
What is the dispute
The conflict between Paramount Skydance and Netflix is all about controlling Warner Bros. The Warner Bros Discovery owns blockbuster content like ‘Harry Potter’ and ‘DC Comics’. Paramount has made a ‘hostile bid’ of $108.4 billion to buy Warner Bros. The Paramount has promised to pay the entire amount in cash. However, Warner Bros has rejected this offer.
After Paramount, OTT giant announced the acquisition of Warner Bros studio and streaming business for approximately $82.7 billion. Paramount claims that its cash offer is more secure and beneficial than Netflix’s share-based offer.
Paramount demands financial information on Netflix deal
Paramount Skydance filed a lawsuit against Warner Bros Discovery on Monday. The company stated that Warner Bros is not providing complete information about the Netflix deal. This consists of studios and content libraries, such as Harry Potter and DC Comics. Paramount claims that its all-cash offer is more certain and will clear regulatory hurdles more easily.
The Paramount has also given a proposal to change Warner’s bylaws, but this will require shareholder approval to separate the cable TV business, which is part of Netflix deal. The company has also given a revised bid of $108.4 billion last week, but the Warner board rejected it.
Court Action and Shareholder vote
Paramount’s offer will expire on 21st January 2026, but it could be extended too. The lawsuit could force Warner to provide deeper financial details before then. The proxy fight, shareholder disputes, and potential regulatory reviews are likely to push this battle into months of legal and boardroom contention.
This is more than a corporate acquisition battle. This highlights the shifting power in entertainment. How Warner Bros is controlled could reshape streaming, studio production, and industry consolidation. The outcome may influence future media mergers and how shareholder rights are protected in high‑stakes deals.
Syed Ziyauddin is a media and international relations enthusiast with a strong academic and professional foundation. He holds a Bachelor’s degree in Mass Media from Jamia Millia Islamia and a Master’s in International Relations (West Asia) from the same institution.
He has work with organizations like ANN Media, TV9 Bharatvarsh, NDTV and Centre for Discourse, Fusion, and Analysis (CDFA) his core interest includes Tech, Auto and global affairs.
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