Paramount Skydance Defends Its $77.9 Billion Hostile Bid for Warner Bros. Discovery

Paramount Skydance

PSKY

decrease; red down pointing triangle continued pushing its $77.9 billion bid for Warner Bros. Discovery

WBD 2.22%

increase; green up pointing triangle Thursday, a day after Warner said it plans to stick to its existing deal with Netflix NFLX -1.76%decrease; red down pointing triangle.

“Paramount’s offer is superior to WBD’s existing agreement with Netflix and represents the best path forward for WBD shareholders,” Paramount said.