Warner Bros. Discovery, Inc. ("WBD") (NASDAQ:WBD) today announced that its Board of Directors (the "Board"), following consultation with its independent financial and legal advisors, has determined that the previously disclosed proposal from Paramount Skydance Corporation ("PSKY") (NASDAQ:PSKY) constitutes a "Company Superior Proposal" as defined in WBD's merger agreement with Netflix, Inc. ("Netflix") (NASDAQ:NFLX).

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