Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros. Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant.
Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros. Discovery's TV, film studios and streaming assets.
But Paramount's latest attempt means the jockeying for Warner Bros. and its prized HBO and DC Comics assets will not come to a conclusion swiftly.
Paramount argued that its $30-per-share, all-cash offer for the entirety of Warner Bros. Discovery is superior to Netflix's bid, providing shareholders $18 billion more in cash and an easier path to regulatory approval.
Paramount, unlike Netflix, is also offering to b
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