Netflix's proposed $82.7 billion deal to acquire Warner Bros. Discovery assets heads toward a shareholder vote. The vote is likely scheduled for March.
Netflix seeks the acquisition to expand its content library and production capabilities. The deal faces potential regulatory scrutiny in the U.S. and Europe.
Paramount Skydance submitted a competing hostile offer valued at $108.4 billion.
Warner Bros.' board unanimously rejected Paramount's offer, labeling it "inadequate." Paramount continues efforts to convince investors of its proposal's superior value.