Regulatory Process for Netflix’s Acquisition of Warner Bros. Has Begun, CEO David Zaslav Tells Staff

The regulatory review process for Netflix to acquire Warner Bros. has already begun, Warner Bros. Discovery CEO David Zaslav said in a letter sent to staff early Wednesday morning that TheWrap obtained.

The note came on the heels of Wbd’s board unanimously voting for shareholders to reject Paramount’s all-cash offer.

“As part of its work, the Board reviewed Paramount Skydance’s most recent unsolicited tender offer with the same care and discipline it has applied throughout this process, including its review of multiple prior proposals,” Zaslav wrote. “The Board’s evaluation followed a thorough and consistent process and is grounded in its fiduciary duties.”

The CEO then provided…