"Endgame of streaming media bidding war? Warner (WBD.US) board supports Netflix, plans to reject hostile takeover bid from Paramount."

According to the Zhtng Financial APP, media reports quoting informed sources revealed that Warner Bros. Discovery (WBD.US) plans to reject the "hostile takeover offer" from Paramount Skydance (PSKY.US) due to concerns about financing arrangements and other terms. The sources said that after reviewing and evaluating Paramount's offer, the Warner Bros. board of directors will urge shareholders to reject the acquisition offer; the sources requested anonymity to discuss confidential information. They stated that the board still believes that the value, certainty, and terms provided by the company's existing agreement with streaming leader Netflix (NFLX.US) are superior to the proposal from Paramount Skydance.