The board of directors of Warner Bros. Discovery has completely rejected Paramount - Sky Dance's latest takeover attempt at the film industry, saying that its hostile takeover plan worth $108.4 billion was a high-risk leveraged takeover, and advised investors to reject it. The Warner Bros. board of directors said in a letter to shareholders on Wednesday that Paramount's takeover offer relied on “huge debt financing,” which greatly increased the uncertainty of the completion of the deal. The board reiterated its commitment to advancing the agreement reached with streaming giant Netflix, which plans to acquire Warner Bros.'s film and television production business and other assets for $82.7 billion. Paramount and Netflix have always fought for control of Warner Bros., and their core goal is Warner Bros.'s high-quality film and television production studios and massive content library. Warner Bros. holds a number of entertainment IPs with a strong ability to suck money, including “Harry Potter,” “Game of Thrones,” “Friends,” and the DC Comics universe, as well as popular classics such as “Casablanca” and “Citizen Kane.”

The board of directors of Warner Bros. Discovery has completely rejected Paramount - Sky Dance's latest takeover attempt at the film industry, saying that its hostile takeover plan worth $108.4 billion was a high-risk leveraged takeover, and advised investors to reject it. The Warner Bros. board of directors said in a letter to shareholders on Wednesday that Paramount's takeover offer relied on “huge debt financing,” which greatly increased the uncertainty of the completion of the deal. The board reiterated its commitment to advancing the agreement reached with streaming giant Netflix, which plans to acquire Warner Bros.'s film and television production business and other assets for $82.7 billion. Paramount and Netflix have always fought for control of Warner Bros., and their core goal is Warner Bros.'s high-quality film and television production studios and massive content library. Warner Bros. holds a number of entertainment IPs with a strong ability to suck money, including “Harry Potter,” “Game of Thrones,” “Friends,” and the DC Comics universe, as well as popular classics such as “Casablanca” and “Citizen Kane.”