Warner Bros. bidding war
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In rejecting Paramount ’s hostile takeover bid, Warner Bros. questions the Ellison family trust and its commitment to a $77.9 billion deal.
Paramount's David Ellison said that if Warner Bros. Discovery's board took his current offer, it would be "admitting breach of fiduciary duty."
On today's 'Daily Variety' podcast, David Ellison tries to pry Warner Bros. and HBO from Netflix; 'Five Nights at Freddy's 2' impresses at box office.
The CEO stands to gain $567 million if a deal is sealed to sell the WB empire while longtime lieutenant Gunnar Wiedenfels will see $144 million in cash and stock considerations if a transaction closes.