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Paramount Global is reportedly courting Warner Bros. shareholders to join its board in an effort to block Netflix's acquisition.
Gelonghui, February 13 | According to the Financial Times, Paramount Skydance is in discussions to nominate Pentwater Capital Management, the seventh-largest shareholder of Warner Bros. Discovery, to its board in an effort to thwart Netflix's acquisition. Sources familiar with the matter revealed that Paramount has invited Matt Halbower, CEO of Pentwater, as a potential board nominee in a proxy contest against Warner Bros. Halbower stated that he hopes Warner Bros. will reconsider Paramount's revised offer, thereby avoiding the need for a proxy contest.
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Paramount Global (PSKY.US) is reportedly attempting to recruit Warner Bros. Discovery (WBD.US) shareholders to join its board in an effort to block a potential deal with Netflix (NFLX.US).
According to a report by the Financial Times, Paramount Global (PSKY.US) is in talks to nominate Pentwater Capital Management, the seventh-largest shareholder of Warner Bros. Discovery (WBD.US), to its board in an effort to fend off a potential acquisition by Netflix (NFLX.US). Citing sources familiar with the matter, the report states that Paramount has invited Matt Halbower, CEO of Pentwater, as a potential board nominee in a proxy contest targeting Warner Bros. In an interview, Halbower expressed his hope
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