🚨 Media Merger Wars Heat Up! 🚨

Paramount Skydance has launched a hostile US$ 108.4 billion bid for Warner Bros Discovery (WBD), challenging Netflix's recent US$ 72 billion deal for WBD's assets. • New Bid: Paramount's offer is a cash bid of $30 per share, aiming to create a media powerhouse and outcompete streaming giants. • Previous Deal: Netflix had secured WBD's TV, film studios, and streaming assets last Friday for US$ 72 billion in equity. • WBD Board Response: The Warner Bros Discovery board will review Paramount's offer but maintains its recommendation for the Netflix deal, advising shareholders "to take no action at this time." • Funding: Paramount's bid is financed by Affinity Partners (run by Jared Kushner) and Middle Eastern government funds, backstopped by the Ellison family. • Paramount's Argument: Claims its bid for the entirety of WBD is superior, offering shareholders US$ 18 billion more in cash and an easier path to regulatory approval, benefiting competition and the creative community.