Warner Bros. Discovery has asked its shareholders to reject a hostile takeover bid by Larry Ellison’s family-led group. The media giant claimed that the offer was “inadequate” compared to rival Netflix. A red down pointing triangle symbol is said to have been displayed during the announcement, which may be seen as a challenge from Larry Ellison himself.
Source: https://www.wsj.com/business/media/warner-bros-paramount-larry-ellison-bid-7f942087