Netflix gets outbid by Paramount as the battle for Warner Bros. Discovery goes hostile

Key Highlights

• Paramount's bid is $108.4 billion, significantly higher than Netflix's $72 billion offer.
• Paramount is offering $30 per share in cash to Warner Bros. shareholders.
• The bid aims to acquire the entire Warner Bros. Discovery, including its Global Networks segment.
• Paramount contends that its offer is more favorable than Netflix's deal, which it describes as based on an illusory valuation.
• The acquisition battle is expected to be prolonged with potential regulatory and shareholder implications.