Delaware judge won't speed up Paramount lawsuit seeking Warner Bros merger details
Source: Reuters
January 15, 2026 11:56 AM EST Updated 2 hours ago
Jan 15 (Reuters) - A Delaware judge on Thursday rejected Paramount Skydance's (PSKY.O), opens new tab bid to speed up its lawsuit demanding that Warner Bros Discovery (WBD.O), opens new tab better explain its decision that Netflix's (NFLX.O) proposed $82.7 billion takeover was better than Paramount's own $108.7 billion hostile bid.
Vice Chancellor Morgan Zurn of the Delaware Chancery Court said Paramount did not suffer "cognizable irreparable harm" from Warner Bros' alleged inadequate disclosures about its cable TV business, which is not part of the Netflix bid. She also said Paramount had other means to obtain financial information it sought, though an unsuccessful Paramount tender offer for Warner Bros "opens the door wider" for the Netflix transaction.
Paramount said in a statement it will keep pressing Warner Bros for better disclosures. "Warner Bros Discovery shareholders should ask why their board is working so hard to hide this information," Paramount said. In a statement, Warner Bros called the lawsuit "yet another unserious attempt to distract and the judge saw right through it." Netflix did not immediately respond to requests for comment. The lawsuit was part of David Ellison-led Paramount's effort to ratchet up pressure on Warner Bros, which operates film and television studios, owns HBO and has an extensive content library that includes Harry Potter and DC Comics.
Paramount wanted the court to fast-track the case so Warner Bros shareholders could decide whether to accept its $30 per share all-cash tender offer, rather than Netflix's lower cash-and-stock offer for its studio and streaming business, before it expired on January 21. Warner Bros called Paramount's request premature and said it plans to disclose the financials when it solicits shareholder approval for the Netflix takeover. No vote has been scheduled, and Paramount is expected to extend its tender offer. Warner Bros rejected Paramount's takeover proposal on January 7.
Read more: https://www.reuters.com/business/media-telecom/delaware-judge-wont-speed-up-paramount-lawsuit-seeking-warner-bros-merger-2026-01-15/