Warner Bros. Discovery rejects Paramount’s first takeover bid

Wbd says the initial offer from Paramount Skydance wasn’t high enough to seal the deal.

Paramount Skydance is going to have to search around for a little extra scratch if it wants to become the owner of Warner Bros. Discovery. That’s according to multiple reports, which indicate that Paramount’s first attempt to make its purchase of Wbd official was rebuffed for not being a substantial enough offer.

Key Details: Big bills, or small?: Paramount approached Wbd with a majority-cash offer in late September. Try again: Reports indicate a new bid is already in the planning stages. Get hostile?: The Ellisons could approach Wbd shareholders directly…