Paramount, a Skydance Corporation (NASDAQ: PSKY) ("Paramount"), today sent a letter to the shareholders of Warner Bros. Discovery, Inc. (NASDAQ: WBD) ("WBD"). The letter clearly sets out why Paramount's $30.00 per share all-cash offer to acquire all of WBD is superior to WBD's transaction with Netflix (NASDAQ: NFLX). Full text of the letter follows below.
Dear Warner Bros. Discovery Shareholder:
Paramount began pursuing Warner Bros. Discovery ("WBD") because we, along with our partner RedBird Capital, believe we are the best stewards not only to build long-term value for the asset but also delight audiences and help cultivate a more vibrant creative community. We funded, founded and then merged Skydance with Paramount and know the sacrifices and investment it takes to capitalize and grow a media business. I am passionate and dedicated to this pursuit, committed to putting my own money in, and that is why I am writing to you today.
