<p>Warner Bros Discovery&#8217;s board could announce a decision as early as Wednesday on Paramount Skydance&#8217;s $108.4 billion takeover bid, with the board likely to advise shareholders to vote against the offer, according to sources familiar with the matter.</p>
<p>The decision to recommit to Netflix&#8217;s buyout offer would mark the latest twist in the race for assets that include Warner Bros&#8217; storied film and TV studio, and its extensive film and television library, whose portfolio includes classics ranging from &#8220;Casablanca&#8221; and &#8220;Citizen Kane&#8221; to contemporary favorites like &#8220;Harry Potter&#8221; and &#8220;Friends,&#8221; HBO and the HBO Max streaming service.</p>
<p>A Warner Bros Discovery spokesman declined to comment.</p>
<p>The winner will gain a big advantage in the streaming wars by locking up a deep content library that has long been an acquisition target.</p>
<p>Netflix earlier this month emerged victorious with a $27 cash-and-stock bid for Warner Bros&#8217; non-cable assets.</p>
<p><b data-stringify-type="bold"><a class="c-link c-link--focus-visible c-link--underline" href="https://get.dailywire.com/subscribe/plus/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=christmas&amp;utm_content=christmassale25" target="_blank" rel="noopener noreferrer" data-stringify-link="https://get.dailywire.com/subscribe/plus/?utm_medium=website&amp;utm_source=editorial&amp;utm_campaign=christmas&amp;utm_content=christmassale25" data-sk="tooltip_parent">Christmas Sale – Get 40% off New DailyWire+ Annual Memberships</a></b></p>
<p>Paramount CEO David Ellison then went directly to Warner Bros&#8217; shareholders with a $30-a-share, all-cash bid for the whole company.</p>
<p>In regulatory filings, Paramount has said its bid is superior to Netflix&#8217;s offer and would enjoy a clearer path to regulatory approval. Its offer is financed by $41 billion in new equity, which is backed by the Ellison family and RedBird Capital, and $54 billion of debt commitments from Bank of America, Citi and Apollo.</p>
<p>Jared Kushner&#8217;s Affinity Partners, which was one of Paramount&#8217;s financing partners, is exiting the battle, according to Bloomberg.</p>
<p>Paramount and Affinity Partners did not immediately respond to Reuters&#8217; request for comment.</p>
<p>(Reporting by Milana Vinn in New York and Dawn Chmielewski in Los AngelesEditing by Ken Li, Dawn Kopecki and Nick Zieminski)</p>

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Warner Bros Likely To Reject $108.4 Billion Paramount Bid, Back Netflix In Bidding War, Sources Say

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Warner Bros Likely To Reject $108.4 Billion Paramount Bid, Back Netflix In Bidding War, Sources Say