The Paramount Skydance CEO will try to sway shareholders to install a new slate of directors and make changes to the company’s corporate bylaws, arguing the current board is not acting in the company’s best interest by going with Netflix. Meanwhile, a vote to replace the board would typically be held at Warner’s 2026 annual meeting, which has not set a date, though a threshold of just 20% of shareholders who have held the stock for at least a year are needed in order to call a special meeting before then. Warner’s fifth largest shareholder Harris Associates believes that Paramount’s revised $108.4 billion bid is “not sufficient” and has called for the media company to raise the offer, while the media giant’s seventh largest shareholder Pentwater Capital Management has accused the Warner Bros. board of failing to appropriately engage with Paramount and breaching its fiduciary duty.
Author: Lucas Manfredi
Published at: 2026-01-12 23:06:04
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