Warner Bros. Discovery's board has 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...

Warner Bros has rejected Paramount’s $108bn (£80bn) hostile takeover bid for the second time despite Larry Ellison’s pledge to provide a $40bn personal guarantee.

The WBD board has also called Paramount’s hostile takeover offer “inadequate" and overly risky.