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Netflix and WBD have switched their merger to an all-cash deal, effectively neutering Paramount's hostile bid.
After losing in court, Paramount hit the nuclear button: a proxy war to replace WBD's board.
The suit demands the board prove why the Netflix merger beats a $30-per-share cash payout.
Warner Bros. Discovery has formally rejected Paramount Skydance’s hostile bid... again.
Let the streaming wars and lawsuits begin.
And Netflix's chase for the next billion customers.
'The WBD appears to have abandoned the semblance and reality of a fair transaction process.'
