After Paramount accused Warner Bros. of treating it unfairly during the deal talks, Warner Bros. has now gone on the offensive, telling shareholders that the Ellisons, the family that controls Paramount, "consistently misled" them about guarantees of the deal's funding, according to a new filing.

Affinity Partners had planned to back a bid by Paramount Skydance to acquire all the assets of media giant Warner Bros. Discovery.

David Ellison is not going away quietly in his quest to land Warner Bros. Discovery. On Monday, Ellison’s Paramount Skydance announced it has commenced an all-cash tender offer