Warner Bros. Discovery on Wednesday rejected Paramount Skydance's amended takeover offer, the latest in a series of rejections in David Ellison's pursuit of the streaming and cable giant.

Warner Bros Discovery's board has unanimously turned down ‌Paramount ​Skydance's latest attempt to acquire the studio, saying its revised $108.4 billion ‌hostile bid amounted to a risky leveraged buyo...

Among the issues with accepting the Paramount deal, highlighted in the letter, was the fact Warner Bros would have to pay Netflix $2.8bn for abandoning their merger agreement.