Fri Dec 05 04:10:00 UTC 2025: Here’s a summary of the text and a rewrite as a news article:

Summary:

Paramount Skydance has accused Warner Bros. Discovery (WBD) of running a biased and unfair sale process, favoring Netflix’s bid for some or all of WBD’s assets. In a letter to WBD CEO David Zaslav, Paramount’s attorneys questioned the process’s integrity, citing media reports suggesting WBD management prefers Netflix due to perceived “chemistry” and potential personal interests. Paramount also highlighted a meeting in Brussels between WBD and EU comissioners that hinted at negative intervention for the merger and reports indicating WBD’s resistance to a combination with Paramount. Paramount implied that WBD might be intentionally obstructing their bid. Paramount requested that WBD create a special committee of disinterested board members to oversee the sale. WBD responded by affirming the integrity of its board’s actions and fiduciary responsibility to its stockholders. Final bids are due this week, and a winner is expected to be announced soon.

News Article:

Paramount Accuses Warner Bros. Discovery of Rigging Sale Process in Favor of Netflix

New York, NY – Paramount Skydance has leveled serious accusations against Warner Bros. Discovery (WBD), claiming the media giant is conducting a biased and unfair sale process designed to favor a bid from Netflix. In a strongly worded letter to WBD CEO David Zaslav, reviewed by CNBC, Paramount’s attorneys questioned the integrity of the process, which could lead to the acquisition of some or all of WBD’s assets, including HBO Max, Warner Bros. film studio, and its cable networks.

Paramount alleges that WBD management appears to be unduly influencing the sale in favor of Netflix, citing multiple media reports and insinuating potential conflicts of interest. The letter specifically calls out reports of “chemistry” between WBD management and Netflix leadership, and reports that WBD has been speaking with the EU commission about a potential merger. Paramount and its advisors have also found WBD contact to be obstructinal rather than constructive.

“It has become increasingly clear… that WBD appears to have abandoned the semblance and reality of a fair transaction process… and embarked on a myopic process with a predetermined outcome that favors a single bidder,” the letter stated.

Paramount’s concern stems from its belief that Zaslav and other WBD executives may have a preference for Netflix due to potential personal gains or a pre-existing vision for the company’s future, potentially obstructing Paramount’s own all-cash offer. The company has formally requested that WBD establish an independent special committee of disinterested board members to oversee the sale process and ensure a fair evaluation of all bids.

Warner Bros. Discovery responded to CNBC, confirming receipt of the letter and stating it would be shared with the WBD board. “Please be assured that the WBD Board attends to its fiduciary obligations with the utmost care, and that they have fully and robustly complied with them and will continue to do so,” the company said.

Netflix, Paramount, and Comcast submitted their second-round bids this week, with Netflix reportedly the leading bidder based on WBD’s current valuations. Third-round bids are due on Thursday, and WBD is expected to announce a winning bid as early as next week. The accusations from Paramount raise serious questions about the fairness and transparency of the sale process, potentially casting a shadow over any eventual deal.

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