Paramount Skydance is suing Warner Bros. Discovery and CEO David Zaslav as its latest step in a hostile pursuit to acquire WBD, CEO David Ellison outlined in a letter to WBD shareholders on Monday.

The lawsuit asks a Delaware court to direct Warner Bros. Discovery to provide information about its sale process and pending deal with Netflix.

“WBD has failed to include any disclosure about how it valued the Global Networks stub equity, how it valued the overall Netflix transaction, how the purchase price reduction for debt works in the Netflix transaction, or even what the basis is for its ‘risk adjustment’ of our $30 per share all-cash offer,” Ellison said in the letter on Monday.

“We filed suit this morning in Delaware Chancery Court to ask the court to simply direct WBD to provide this information so that WBD shareholders have what they need to be able to make an informed decision as to whether to tender their shares into our offer,” Ellison said.

Ellison also informed WBD shareholders on Monday that Paramount intends to nominate directors for election to WBD’s board at the company’s 2026 annual meeting, in a move that would add a proxy fight to the equation.

MORE HERE