An anonymous reader quotes a report from Reuters: Warner Bros Discovery's board unanimously turned down Paramount Skydance's latest attempt to acquire the studio, saying its revised $108.4 billion hostile bid amounted to a risky leveraged buyout that investors should reject. In a letter to shareholders on Wednesday, Warner Bros' board said Paramount's offer hinges on "an extraordinary amount of debt financing" that heightens the risk of closing. It reaffirmed its commitment to streaming giant Netflix's $82.7 billion deal for the film and television studio and other assets. Their assessment comes even after Paramount, which has a market value of around $14 billion, proposed to use $40 billion in equity personally guaranteed by Oracle billionaire co-founder Larry Ellison -- father of Paramount CEO David Ellison -- and $54 billion in debt to finance the deal. The decision keeps Warner Bros on track for its deal with Netflix, even after Paramount amended its bid on December 22 to address the earlier concerns about the lack of a personal guarantee from Larry Ellison. Netflix co-CEOs Ted Sarandos and Greg Peters welcomed Warner Bros' decision on Wednesday, saying it recognizes the streaming giant's deal "as the superior proposal that will deliver the greatest value to its stockholders, as well as consumers, creators and the broader entertainment industry."

Read more of this story at Slashdot.

According to Bloomberg, Discord has confidentially filed for a U.S. IPO. Reuters reports: The U.S. IPO market regained momentum in 2025 after nearly three years of sluggish activity, but hopes for a stronger rebound were tempered by tariff-driven volatility, a prolonged government shutdown and a late-year selloff in artificial intelligence stocks. Discord, which was founded in 2015, offers voice, video and text chatting capabilities aimed at gamers and streamers. According to a statement in December, the platform has more than 200 million monthly users.

Read more of this story at Slashdot.