Paramount to Nominate Directors for WBD Annual Meeting, Solicit Against Netflix Deal

Paramount Skydance Corporation is advancing its $30 per share all-cash offer to acquire Warner Bros. Discovery, despite the latter's decision not to engage with Paramount. Paramount intends to nominate directors for election at WBD's 2026 Annual Meeting and solicit against the approval of the Netflix transaction. The company has also filed a lawsuit seeking disclosure of basic information to enable WBD shareholders to make informed decisions. Paramount will continue to pursue its offer through a tender offer and by proposing amendments to WBD's bylaws.