Key Highlights
- Subscribe to enjoy similar stories.
- Subscribe now On 5 December, Netflix signed an agreement to acquire Warner Bros.
- Discovery's (WBD) studio and streaming businesses for an enterprise value of $82.7 billion.
- WBD's board chose Netflix over the rival bidders Paramount Skydance and Comcast (via NBC Universal).
- However, three days later, Paramount Skydance, led by CEO David Ellison (son of billionaire Larry Ellison), launched a hostile bid for the entire company, valuing WBD at roughly $108 billion.

