Warner Bros to reject $108bn Paramount bid, reports say

Warner Bros Discovery is expected to urge its shareholders to reject Paramount Skydance's $108.4 billion takeover bid as soon as Wednesday, according to reports. Paramount has called its offer 'superior' to a $72 billion deal Warner Bros struck with Netflix. Meanwhile, Affinity Partners, a key backer of Paramount's bid, has reportedly pulled out due to involvement of 'two strong competitors'. Warner Bros declined to comment. Paramount and Affinity have also been asked for comment.

Warner Bros Discovery is expected to urge its shareholders to reject Paramount Skydance's $108.4 billion takeover bid as soon as Wednesday, according to reports. Paramount has called its offer 'superior' to a $72 billion deal Warner Bros struck with Netflix. Meanwhile, Affinity Partners, a key backer of Paramount's bid, has reportedly pulled out due to involvement of 'two strong competitors'. Warner Bros declined to comment. Paramount and Affinity have also been asked for comment.

Warner Bros Discovery is expected to urge its shareholders to reject Paramount Skydance's $108.4 billion takeover bid as soon as Wednesday, according to reports. Paramount has called its offer 'superior' to a $72 billion deal Warner Bros struck with Netflix. Meanwhile, Affinity Partners, a key backer of Paramount's bid, has reportedly pulled out due to involvement of 'two strong competitors'. Warner Bros declined to comment. Paramount and Affinity have also been asked for comment.

This story involves 1 source and may affect public understanding of business / mergers.