Warner Bros. Discovery on Wednesday recommended shareholders reject Paramount’s unsolicited bid for the company, questioning the funding structure for the deal.In response to Warner’s rejection, Paramount said its offer is still good.

Warner Bros. is telling shareholders to reject a takeover bid from Paramount Skydance, saying that a rival bid from Netflix will be better for customers.

Paramount has said its offer is "superior" to a $72bn deal that Warner Bros struck with Netflix for its film and streaming businesses.