Paramount escalates hostile takeover of Warner Bros. with lawsuit and proxy war

Published January 12, 2026 1:31pm ET



Paramount Skydance is suing Warner Bros. Discovery and launching a proxy war with its board after the up-for-sale Hollywood studio chose to stick with Netflix’s bid last week.

Paramount CEO David Ellison announced on Monday that his company filed a lawsuit asking the Delaware Court of Chancery to order Warner Bros. to provide information about its sale process and pending deal with Netflix, “so that WBD shareholders have what they need to be able to make an informed decision as to whether to tender their shares into our offer.”

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