"If they accept the offer exactly as it is today, right, then they're admitting breach of fiduciary duty, so I don't think they can just take that," Ellison was overheard saying in reference to management at the UBS media event on Tuesday, Business Insider has exclusively learned. WBD issued a statement in response to Paramount's hostile bid, saying that its board would "carefully review and consider Paramount Skydance's offer" in a way that's "consistent with its fiduciary duties and in consultation with its independent financial and legal advisors." Moving forward, Ellison's comments suggest he knows he might have to sweeten the deal to get it over the finish line, even though he said he thinks Paramount's current bid is "by far the superior offer" compared to Netflix's.
Author: jfaris@businessinsider.com (James Faris)
Published at: 2025-12-09 22:43:29
Still want to read the full version? Full article
