Warner Bros. Discovery recommends shareholders reject Paramount Skydance's tender offer

LOS ANGELES, Dec. 17 (Xinhua) -- The board of Warner Bros. Discovery (WBD), a leading global media and entertainment company, on Wednesday recommended that shareholders reject Paramount Skydance's 108.4-billion-U.S.-dollar tender offer and reiterated its support for the Netflix combination.

"Following a careful evaluation of Paramount's recently launched tender offer, the Board concluded that the offer's value is inadequate, with significant risks and costs imposed on our shareholders," said Samuel A. Di Piazza, Jr., board chair of WBD, in a statement.