Paramount has launched a hostile takeover offer for Warner Bros Discovery, initiating a potentially bruising battle with rival bidder Netflix to buy the company behind HBO, CNN and a famed movie studio along with the power to reshape much of the nation's entertainment landscape. Emerging just days after top Warner managers agreed to Netflix's USD 72 billion purchase, the Paramount's Monday bid seeks to go over the heads of those leaders by appealing directly to Warner shareholders with more money -- USD 77.9 billion -- and a plan to buy all of Warner's business, including the cable business that Netflix does not want. Paramount said its decision to go hostile came after it made several earlier offers that Warner management "never engaged meaningfully" with following the company's October announcement that it was open to selling itself. In its appeal to shareholders, Paramount noted its offer also contains more cash than Netflix's bid -- USD 18 billion more -- and argued that it is .Paramount has launched a hostile takeover offer for Warner Bros Discovery, initiating a potentially bruising battle with rival bidder Netflix to buy the company behind HBO, CNN and a famed movie studio along with the power to reshape much of the nation's entertainment landscape. Emerging just days after top Warner managers agreed to Netflix's USD 72 billion purchase, the Paramount's Monday bid seeks to go over the heads of those leaders by appealing directly to Warner shareholders with more money -- USD 77.9 billion -- and a plan to buy all of Warner's business, including the cable business that Netflix does not want. Paramount said its decision to go hostile came after it made several earlier offers that Warner management "never engaged meaningfully" with following the company's October announcement that it was open to selling itself. In its appeal to shareholders, Paramount noted its offer also contains more cash than Netflix's bid -- USD 18 billion more -- and argued that it is . Latest News [ SOBAN NEWS: International and National ]
