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Paramount’s $30-per-share bid for Warner Bros. Discovery, backed by tech billionaire Larry Ellison, lost Friday when Netflix swooped in with a competing $82.7-billion deal.

Analysts and multiple auction insiders told The Times several factors complicated the process, including Paramount’s low-ball offers and hubris.

Paramount is accusing Warner Bros. of rigging the auction and is expected to urge regulators to block the Netflix deal as anti-competitive.

Oracle founder Larry Ellison was on the cusp of conquering Hollywood.

Just four months earlier, he had bankrolled his son David’s $8-billion acquisition of the storied Paramount Pictures .

Now the Ellison family had designs on

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