Warner Bros asks investors to reject takeover bid from Paramount Skydance

Warner Bros. is telling shareholders to reject a takeover bid from Paramount Skydance, saying that a rival bid from Netflix will be better for customers. “We strongly believe that Netflix and Warner Bros. joining forces will offer consumers more choice and value, allow the creative community to reach even more audiences with our combined distribution, and fuel our long-term growth,” Warner Bros. said Wednesday. Paramount went hostile with its bid last week, asking shareholders to reject the deal with Netflix favored by the board of Warner Bros.