Ellison's Paramount makes $108B cash offer for Warner Bros. Discovery, escalating buyout fight with Netflix

Paramount Skydance (PSKY) announced on Monday a bid to acquire Warner Bros. Discovery (WBD) in an all-cash deal worth $30 per share, or roughly $108.4 billion, as the company moves to top Netflix's (NFLX) deal struck last week to acquire the storied studio. Paramount stock rose more than 6% after the announcement, while Warner Bros. stock rose as much as 7%. Paramount's bid on Monday would see the company acquire all of Warner Bros.' assets. On Friday, Netflix agreed to acquire Warner Bros.' TV, film, st ...