Read the memo WBD CEO David Zaslav sent employees after rejecting Paramount for the 8th time [View all]
Source: Business Insider
Jan 7, 2026, 10:41 AM ET
Warner Bros. Discovery just rejected David Ellison's takeover offer for the eighth time — and its CEO is telling employees why. WBD CEO David Zaslav sent a companywide memo on Wednesday morning, which was viewed by Business Insider, explaining why WBD is sticking with its Netflix deal.
Zaslav told staffers that WBD's board of directors did a "thorough review" of Paramount's latest offer and said they believe Netflix's offer is still superior. "This review was conducted with discipline and rigor, and was supported by independent financial and legal advisors," Zaslav told employees.
In a letter to shareholders on Wednesday, WBD's board outlined two key reasons it was turning down Paramount's updated offer. First, the board said it offered "insufficient value" relative to Netflix's bid, due to additional costs like a break-up fee to Netflix. Second, they said there was a "lack of certainty" in Paramount's ability to consummate the deal because of an "extraordinary amount of debt financing."
Paramount's latest deal had included $40.4 billion in equity fully backstopped by Larry Ellison, the father of Paramount CEO David Ellison and one of the richest people in the world. In Zaslav's memo to staffers, he said the company's "operating plans remain unchanged, and our priorities for 2026 are clear and intentional." WBD's CEO also encouraged employees to tune out the noise.
Read more: https://www.businessinsider.com/wbd-ceo-david-zaslav-read-memo-employees-paramount-skydance-ellison-2026-1
REFERENCE - https://www.democraticunderground.com/10143594173
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