Netflix outbid by Paramount in battle for Warner Bros. Discovery

Paramount Skydance has launched a hostile bid for Warner Bros. Discovery following the media giant's decision to accept Netflix's acquisition offer. Paramount on Monday appealed directly to Warner Bros. Discovery shareholders, making a $30 all-cash per share offer. That's higher than the $27.75 Netflix has agreed to pay, but the same price Paramount offered Warner in its formal bid. Paramount Skydance is hoping to acquire the totality of Warner Bros. Discovery, while the Netflix bid was only for the film ...