Paramount Skydance Reiterates $30/Share Offer For Warner Bros. Discovery

Paramount Skydance Corporation (NASDAQ: PSKY) ("Paramount") notes Warner Bros. Discovery, Inc.'s (NASDAQ: WBD) ("WBD") decision not to engage on Paramount's $30.00 per share, fully financed all-cash offer to acquire all of WBD.

Throughout this process, Paramount has diligently and constructively addressed each concern raised by WBD. As detailed in Paramount's December 22 amended proposal and subsequent filings, Paramount cured every issue raised by WBD on December 17, most notably by providing an irrevocable personal guarantee by Larry Ellison for the equity portion of the financing. Nevertheless, WBD continues to raise issues in Paramount's offer that we have already addressed, including flexibility in interim operations.