Paramount falls after report says Netflix in lead to acquire Warner Bros Discovery

Shares of media major Paramount Skydance PSKY.O fall 2.4% to $14.32

Netflix NFLX.O leads the bidding for Warner Bros Discovery WBD.O, says CNBC, with PSKY and Comcast CMSA.O also participating

PSKY has questioned WBD on “fairness and adequacy” of the sale process, CNBC reports, citing letter from PSKY attorneys

Letter highlights media reports that WBD’s management appears to favor Netflix’s offer, CNBC says

NFLX and CMCSA submitted second-round bids this week to acquire some or all of WBD assets

As of last close, PSKY up ~40% YTD