South Africa, Dec. 18 -- Certain and superior

The reassurance comes as the Warner Bros. Discovery board recommended that shareholders reject an unsolicited offer from Paramount Skydance Corporation and approve Netflix's $82.7bn merger proposal, which it has described as the more certain and superior option.

Under the deal, announced on 5 December, Netflix would acquire Warner Bros., including its film and television studios, HBO and HBO Max, in a fully negotiated cash-and-stock transaction valued at $27.75 per share. Shareholders would also benefit from the planned separation of WBD's Global Linear Networks business, Discovery Global, expected in the third quarter of 2026.

The proposed takeover has sparked concern among filmmakers, cri...