Paramount Skydance on Monday made an $108.4 billion unsolicited takeover offer for Warner Bros. Discovery, with its all-cash bid coming just three days after Netflix agreed to buy Warner Bros. in a deal valued at $82.7 billion.

Warner Bros. Discovery "shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company," Paramount Skydance CEO David Ellison said in a statement. "Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion."

Paramount Skydance is the parent company of CBS News.

—This is breaking news and will be updated.

Edited by Alain Sherter

In:

Paramount

See Full Page