Warner Bros. He later said that he wanted to ensure CNN gets new ownership as part of the Warner Bros.

Warner Bros Discovery on Wednesday rejected a hostile takeover bid by Paramount launched last week to trump plans by streaming giant Netflix to acquire the Hollywood giant and owner of CNN. In a statement, Warner Bros said the terms of the Netflix merger were better, while the Paramount offer "once…

Warner Bros. Discovery rejected Paramount’s hostile bid and urged stockholders to approved Netflix’s bid. Ted Sarandos even committed to releasing WBD movies in theaters with proper windowing.

Paramount was seeking to trump plans by streamer Netflix to acquire the Hollywood giant.

The Warner Bros. board of directors advised shareholders to reject Paramount's hostile takeover offer, but they're still into Netflix's bid.

Warner Bros. Discovery and Netflix have entered exclusive deal talks related to streaming and ownership of the content that possess potential to reshape the media and entertainment industry. As...