Paramount’s Setback Strengthens Warner Bros. Discovery’s Hand in Merger Battle

The contest for control of media giant Warner Bros. Discovery (A) intensified over the weekend, delivering a significant tactical blow to one of the key bidders. As rival Netflix moved to address industry concerns with a major strategic shift, Paramount faced a decisive legal defeat. With a transaction valued at approximately $100 billion hanging in the balance, shareholders are watching closely to see which of the two competing proposals will ultimately prevail.

In a key development on Saturday, a court in the US state of Delaware rejected an emergency motion filed by Paramount, which is backed by Skydance. The challenger had sought a legal order to force Warner Bros. Discovery Read more...