Warner Bros. studios in Burbank, Calif. Paramount Skydance's hostile bid for the company follows Friday's deal with Netflix.

Paramount Skydance PSKY-Q on Monday launched a hostile bid worth US$108.4-billion for Warner Bros. Discovery WBD-Q , throwing a wrench into the deal with Netflix NFLX-Q in a last-ditch effort to create a media powerhouse that would challenge the dominance of the streaming giant.

The streaming giant had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast CMCSA-Q , securing a US$72-billion equity deal for Warner Bros. Discovery’s TV, film studios and streaming assets.

The offer, which is worth US$82.7-billion including debt and comes with a US$5.8-billion break-up fee from Netflix, is likely to face strong antitrust scruti

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