Paramount Files Lawsuit Challenging Netflix Acquisition Of AEW Broadcast Partner Warner Bros.

There’s still a few more years before AEW and owner Tony Khan have to worry about contract negotiations with Warner Brothers Discovery over a new media rights deal. However, that hasn’t stopped many from speculating about AEW’s future, especially as WBD continues to be embroiled in a situation that’s seen Netflix successfully bid to acquire the media conglomerate, only for Paramount Skydance, another WBD bidder, to attempt everything in their power to stop it and buy WBD for themselves.

Having exhausted attempts at a hostile takeover, Paramount is now changing their tactics to put the Netflix/WBD deal to a halt. The Wrap reports that Paramount filed a lawsuit in Delaware on Monday in an attempt to “compel specific financial disclosures related to its [WBD’s] decision to choose Netflix over Paramount’s $30-per-share offer.”

In addition, Paramount CEO David Ellison also revealed, in a letter to shareholders, that Paramount will attempt to nominate its own “board of directors” for WBD at the latter’s next annual meeting. If Ellison’s strategy were to work, it would allow the new board to negotiate with Paramount over Netflix, thus putting the media company back in the game. Even Ellison seems to view the strategy as a long shot though, acknowledging that the chances of Paramount buying WBD were, at the moment, close to nonexistent.

Ultimately, it may not matter to AEW whether it is Netflix or Paramount that buys WBD, as both have ties to WWE’s parent company TKO Group Holdings. Paramount is set to begin a multi-year deal to stream UFC events at the end of the month, while Netflix and WWE just celebrated the one year anniversary of “WWE Raw” airing on the streaming service.

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