Warner Bros. Exploration, the parent company of HBO and CNN, is advising shareholders to reject the malicious takeover initiated by Paramount Skydance Corp. and stick to the original agreement reached with streaming giant Netflix, believing that Paramount's offer was “poor” and “insufficient.” Paramount, the parent company of CBS and Nickelodeon, has directly issued an offer to buy the entire company to Warner Bros. shareholders after the Warner Bros. board of directors agreed to sell its streaming and production business to Netflix. Warner Brothers plans to divest cable networks such as CNN and TNT into an independent company before completing the deal with Netflix.

Warner Bros. Exploration, the parent company of HBO and CNN, is advising shareholders to reject the malicious takeover initiated by Paramount Skydance Corp. and stick to the original agreement reached with streaming giant Netflix, believing that Paramount's offer was “poor” and “insufficient.” Paramount, the parent company of CBS and Nickelodeon, has directly issued an offer to buy the entire company to Warner Bros. shareholders after the Warner Bros. board of directors agreed to sell its streaming and production business to Netflix. Warner Brothers plans to divest cable networks such as CNN and TNT into an independent company before completing the deal with Netflix.