The company said that it would ask WBD shareholders to reject the merger, reject the plan to split the company in two, and reject pay plans for its executives.
Paramount on Thursday said that it had filed preliminary proxy materials in anticipation of a proxy fight, and extended its deadline for WBD shareholders to tender their shares to the company for another month.
changed its deal to acquire Warner Bros. to be all-cash valued at $27.75 per share , but despite that change Paramount says that it is sticking with its $30 per share offer for the whole company. Paramount says that it will ask WBD shareholders to reject the merger deal, to reject the Discovery spinoff and to reject the pay packages for senior WBD executives, including CEO David Zaslav. The filing also suggests that Paramount has a long way to go to persuade WBD shareholders. So far a bit over 168 million WBD shares have been tendered, but the company has nearly 2.5 billion shares outstanding.The Hollywood Reporter is a part of Penske Media Corporation. © 2026 The Hollywood Reporter, LLC. All Rights Reserved.
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