It’s a bidding war, folks.
Things just got a lot more interesting in Hollywood as Paramount Skydance Corp. has launched a hostile takeover bid for Warner Bros. Discovery Inc.
The $30-a-share-in-cash deal came Monday — days after Warner Bros. agreed to a deal with Netflix , which offered $27.75 in cash and stock.
But here’s the kicker — while Netflix’s only interest is in Warner Bros.’ studios and streaming business, Paramount’s bid is for the entire company.
“The Paramount offer for the entirety of WBD provides shareholders $18 billion more in cash than the Netflix consideration,” Paramount CEO David Ellison said in a statement.
“WBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company,” the statement, in part, continued.

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