Paramount has jumped straight into Netflix’s lane and is trying to snatch Warner Bros. Discovery (WBD) away with a big, bold, all-cash offer. The offer comes after Paramount lost out to Netflix to buy WBD, announced on Friday.

The company is offering $30 per share, which is way higher than WBD’s recent stock price, and it’s pitching the deal directly to shareholders instead of going through the board. Yes, this is a hostile takeover bid to start off a Monday worth $108.4 billion, which is $17.6 billion more than what Netflix is offering.

This is happening because WBD had already agreed to a merger with Netflix, but it’s a complicated mix of cash and stock and leaves WBD’s cable networks spun off into a smaller, heavily indebted company.

Paramount basically says that deal is messy, risky

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