Subscription-based streaming services have become the new way by which people consume the majority of their media. As a byproduct of the sheer volume of business these companies generate, the sale of Warner Bros. Discovery has evolved into a contentious battle between Paramount Skydance and Netflix.In the most recent development regarding the impending Warner Bros. Discovery sale, Paramount has written a formal letter insinuating that Warner Bros. has not been a good faith actor during negotiations and that the company may not be operating in the best interest of its shareholders. Penned by Paramount’s attorneys at the Quinn Emanuel law firm, the letter addressed to Warner Bros. Discovery CEO David Zaslav reads as follows,“It has become increasingly clear, through media reporting and otherwise, that WBD appears to have abandoned the semblance and reality of a fair transaction process, thereby abdicating its duties to stockholders, and embarked on a myopic process with a predetermined outcome that favors a single bidder. We specifically request and expect this letter will be shared and discussed with the full board of directors of WBD.”It remains to be seen what effects the letter may have in the forthcoming sale, or if Warner Bros. will be sanctioned for what Paramount deems as unfair practices. As per CNBC reports, all 3 of the second-round offers came in with higher bids than they did in their first round, although Warner Bros. seems intent on closing a deal with Netflix, the streaming giant.Warner Bros. Discovery responds to Paramount letter, moreOnce the letter composed by Paramount’s legal team had been shared, the impetus was placed on representatives from Warner Bros. Discovery to respond to the allegations of favoritism during the formal sale process. Eventually, their lawyers provided the following statement,“Please be assured that the WBD Board attends to its fiduciary obligations with the utmost care, and that they have fully and robustly complied with them and will continue to do so.”Meanwhile, Paramount maintains that their offer, “would provide the maximum value to WBD stockholders.”Paramount also suspects that recent changes to employment contracts may have caused management conflicts affecting the sales process. They believe that it may be particularly due to possible personal interests of some management members when it comes to compensation and roles after the transaction. Another excerpt from the Paramount letter adds further context and nuance to their complaint,“These concerns are amplified by indications of director bias and beholdenness to others whose interests may not align with the stockholders’, and the fact that alternatives involving only certain WBD assets are being prioritized notwithstanding their heightened regulatory risk and potential to deprive stockholders of consideration for the entirety of WBD’s enterprise value.”It remains to be seen how the situation unfolds, although at this point it seems likely that Netflix will ultimately come out of the situation on top.