Warner Bros. Discovery fell 0.8% in early Wednesday trading. The company's board of directors urged shareholders to reject Paramount Sky Dance's hostile takeover offer of $30 per share, citing financing risks. WBD's board of directors also reaffirmed support for the cash plus share deal with Netflix for WBD's streaming media and film production assets.

Warner Bros. Discovery fell 0.8% in early Wednesday trading. The company's board of directors urged shareholders to reject Paramount Sky Dance's hostile takeover offer of $30 per share, citing financing risks. WBD's board of directors also reaffirmed support for the cash plus share deal with Netflix for WBD's streaming media and film production assets.