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The Zaslav “Revlon Mode” Conundrum

Echoes of the Diller–Redstone Paramount brawl and potential Delaware court battles are beginning to haunt the long road to resolution for David Zaslav’s sale of Warner Bros. Discovery.

David Zaslav
But for all the chatter about D.C., there’s a more combustible front that deserves attention: the Delaware Court of Chancery. Specifically, a potential showdown over David Zaslav and the WBD’s board duties as they enter Revlon mode, the long-settled M&A law that obligates them to secure the best deal reasonably attainable for shareholders. Photo: Valerie Macon/AFP/Getty Images
Eriq Gardner
November 25, 2025

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Has there ever been a merger subjected to as much preemptive public hand-wringing as the bidding war for Warner Bros. Discovery? What should be a straightforward auction process has been transformed into a political saga filled with Trump palace intrigue, personal vendettas, and endless media kremlinology surrounding which acquirers might have a regulatory advantage.