Paramount Pictures has named Lia Buman as its new head of global acquisitions and its Republic Pictures label, reporting to Paramount Pictures Co-Chairs Dana Goldberg and Josh Greenstein.

Paramount is standing by its current proposal to acquire Warner Bros. Discovery, warning shareholders against embracing Netflix's pending offer.

Taking the gloves off, Warner Bros. Discovery is accusing Paramount of misleading shareholders by painting a rosy picture of its proposal, which Warner says falls well short of Netflix's offer.

Warner Bros Discovery’s board on Wednesday told investors to reject Paramount’s $108bn hostile bid for the Hollywood media group, saying it was inferior to an $83bn deal agreed with Netflix. The letter from WBD’s board is the latest twist in a takeover saga that stands to reshape Hollywood, regardless of which suitor eventually succeeds.

EXCLUSIVE: Lia Buman is the new Head of Global Acquisitions and Republic Pictures at Paramount Pictures. In addition, Buman will oversee Republic Pictures as a targeted development and production label within Paramount, zeroing in on commercially driven movie with a strong independent DNA.

WBD presented a chronology of events and meetings that occurred, leading to its deal to sell Warner Bros. studios and HBO Max to Netflix, following by David Ellison’s hostile takeover bid and the WBD board’s official rejection of the $30/share bid on Dec.