It’s a bidding war. David Ellison’s Paramount went on the offensive on Monday, launching a hostile offer to take over all of Warner Bros. Discovery, go directly to its shareholders and appeal to Hollywood that it’s ownership will be better for the industry.

“The Paramount offer for the entirety of WBD provides shareholders $18 billion more in cash than the Netflix consideration,” the Ellison-owned company stated. “WBD’s Board of Directors recommendation of the Netflix transaction over Paramount’s offer is based on an illusory prospective valuation of Global Networks that is unsupported by the business fundamentals and encumbered by high levels of financial leverage assigned to the entity.”

It’s a bidding war. David Ellison’s Paramount went on the offensive on Monday, launching a hostile

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