Warner Bros Discovery has rejected the Paramount Skydance bid worth USD 108.4 billion according to Reuters report.

The report stated that Warner Bros called the offer 'illusory' and accused Paramount for misleading shareholders regarding the financing.

Paramount had bid for the media company after Netflix had a bid accepted from Warner Bros Discovery to take over the company.

Reuters has stated that Warner Bros wrote to its shareholders how Paramount had consistently misled them stating its USD 30 dollar per share cash offer was fully guaranteed by the Ellison family and Oracle. y.

The board said it found Paramount's offer 'inferior' to the merger agreement with Netflix's USD 27.75 per share cash-and-stock offer for Warner Bros Discover

Warner Bros has not yet set a date for a shareholder vote on the deal but it is expected to happen sometime before the summer of 2026.