Delaware Judge Denies Paramount’s Request to Expedite Warner Bros Lawsuit

A Delaware judge has rejected Paramount Skydance’s bid to speed up its lawsuit demanding more detailed disclosure from Warner Bros Discovery about its decision to support Netflix’s proposed $82.7 billion takeover over Paramount’s own $108.7 billion hostile bid. 

Vice Chancellor Morgan Zurn of the Delaware Chancery Court ruled Paramount had not shown it would suffer “cognizable irreparable harm” without the financial information sought, particularly regarding Warner’s cable TV business, which is not part of the Netflix offer. 

Paramount had urged fast-tracking the case so Warner shareholders could evaluate its all-cash $30 per share tender offer before it expires on January 21. Warner Bros called the motion premature, saying full disclosures will be provided when seeking shareholder approval for the Netflix deal.  Paramount says it will continue pushing for more information and may extend its tender offer and pursue board nominations to influence negotiations.