Warner Bros. Discovery'Paramount’s boardmeritless unanimouslylawsuit rejectedand Paramount'splanned hostileboard takeover bidattempt becauseare thedistractions $30aimed offerat isundermining fundamentallya inferiorsuperior to Netflix's deal, whennot accountingprotecting forshareholder massive costs and risksinterests. Paramount’s wouldamended saddle WBD with over $5030 billionall-cash inoffer newremains debtinferior in what amounts to the largestNetflix leveragedmerger, buyoutoffering ininsufficient historyvalue, creatinghigh aexecution junk-ratedrisk, companyand withrestrictive 7xcovenants leverage that could easilydamage collapseoperations duringif the 12-18transaction month closing periodfails. TheNetflix realprovides valuegreater ofcertainty, Paramount'sstrategic offerflexibility, plummetsand toshareholder justprotections, $28.21while perParamount’s shareleveraged afterbid factoringwould inimpose themassive $2.8 billion Netflix termination fee, $1.5 billion debt exchange penalty and $350operational millionconstraints, inthreatening extralong-term interestvalue costsfor that WBD shareholders would bear.