Los Angeles, Jan. 13 -- Paramount and Skydance have filed a lawsuit against Warner Bros. Discovery (WBD), demanding disclosure of financial details related to WBD's USD 83 billion deal with streaming giant Netflix. The move comes amid Paramount's ongoing efforts to pursue its own acquisition proposal for WBD assets.
As reported by Variety, Paramount chairman and CEO David Ellison said WBD has failed to provide essential information about how it valued its Global Networks stub equity, calculated the overall Netflix transaction, applied purchase price reductions for debt, or determined the "risk adjustment" of Paramount's USD 30-per-share all-cash offer.
"Paramount simply seeks to ensure that WBD shareholders have the information necessary ...