The twists and turns surrounding the purchase of American media giant Warner Bros Discovery continue. On Tuesday evening, Warner's board of directors suggested that the owners should reject Paramount's bid for the company - the agreement with Netflix is better for the owners to adopt.
In a press release published on Wednesday, Warner Bros. Chairman Samuel A. Di Piazza Jr. said that the board, "after careful evaluation," has concluded that Paramount's offer is too low and involves "significant risks and costs to our shareholders."
"We are confident that our merger with Netflix will deliver superior and more secure value for our shareholders and we look forward to delivering the compelling benefits of our combination," he said.
On Tuesday, news also came from President Donald Trump's son-in-law Jared Kushner that his company Affinity Partners, which was on Paramount's side, was dropping out.
Netflix has offered Warner Bros. owners a price tag of $82.7 billion, equivalent to SEK 770 billion.
Warner Bros is behind a variety of media channels such as HBO and CNN.
