Warner Bros. Discovery advises shareholders to reject Paramount’s offer. But the battle isn’t over

By Brian Stelter, CNN (CNN) — Warner Bros. Discovery is officially rejecting Paramount’s buyout offer, calling it “illusory” and arguing that the existing plan to sell most of the media company to Netflix is a better deal for shareholders. Warner, abbreviated as WBD, is the parent company of CNN. On Wednesday morning, the company filed