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Warner Bros. Discovery alleges that Paramount has been misleading its shareholders by claiming the Ellison family offers a "full backstop." The company asserts that, in reality, Paramount’s financial assurances are not verified nor binding, and the family has chosen not to back the bid fully. This situation raises questions about the transparency of Paramount's offer and the integrity of its representations.
Furthermore, Warner Bros. Discovery insists they conducted a "full, transparent, and competitive review" process. They argue that the process was fair and equitable, contrasting sharply with Paramount’s view that they were disadvantaged from the start and that their last proposal was ignored or inadequately responded to.