Paramount, whose hostile bid of $108.4 billion for Warner Bros. has been rejected, also says it will nominate board members for Warner Bros.' 2026 annual meeting.
Warner Bros., which owns the news channel CNN, has instead chosen to move forward with a structural deal with streaming giant Netflix that, through a merger, would also include competitor HBO Max in its portfolio. The deal is valued at $82.7 billion.
Monday's lawsuit follows the Warner Bros. board's recommendation that the owners reject Paramount's latest bid.
