Paramount Skydance (PSKY) Sues Warner Bros. Discovery in Takeover Fight

Paramount Skydance (PSKY) has stepped up its fight to take over Warner Bros. Discovery (WBD) by suing the company for more information about its $82.7 billion deal with Netflix (NFLX). The company, led by David Ellison, also said it plans to nominate its own directors to Warner Bros. Discovery’s board. These moves are part of Paramount’s attempt to convince shareholders that its $30-per-share all-cash offer is better than Netflix’s $27.75-per-share cash-and-stock deal.