New Delhi, Jan. 13 -- Paramount Skydance Corporation has filed a lawsuit against Warner Bros. Discovery (WBD) in the Delaware Chancery Court, escalating its challenge to WBD's USD 82.7 billion deal with Netflix.

The legal move comes as Paramount presses ahead with its USD 30 per share all-cash offer for WBD, which it says is financially superior to the Netflix transaction.

In a letter sent to WBD shareholders on Monday, Paramount shared its next steps and said it is seeking greater financial disclosure around the Netflix deal so that shareholders can make an informed decision.

It said, "WBD has provided increasingly novel reasons for avoiding a transaction with Paramount, but what it has never said, because it cannot, is that the Netfl...