BRIEF-Warner Bros. Discovery Board Recommends Shareholders Reject Amended Paramount Tender Offer

Reuters01-07

Jan 7 (Reuters) - Warner Bros. Discovery:

BOARD DEEMS PARAMOUNT SKYDANCE OFFER INADEQUATE DUE TO INSUFFICIENT VALUE AND RISKS
BOARD RECOMMENDS SHAREHOLDERS NOT TENDER SHARES INTO PARAMOUNT SKYDANCE OFFER
BOARD UNANIMOUSLY BELIEVES NETFLIX MERGER IS IN SHAREHOLDERS' BEST INTEREST
PARAMOUNT SKYDANCE OFFER INFERIOR GIVEN COSTS, RISKS, UNCERTAINTIES COMPARED TO NETFLIX MERGER

((Reuters.Briefs@thomsonreuters.com;;))

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