NEW YORK —

Paramount has gone hostile with a bid for Warner Bros. Discovery, challenging Netflix which reached a $72 billion takeover deal with the company just days ago.

Paramount said Monday that it is going straight to Warner Bros. shareholders with a $30 per share in cash offer for the entirety of Warner Bros. Discovery, including its Global Networks segment, asking them to reject the deal with Netflix.

That is the same bid that Warner Bros. rejected in favor of the offer from Netflix in a merger that would alter the U.S. entertainment landscape.

Paramount criticized the Netflix offer, saying it “exposes WBD shareholders to a protracted multi-jurisdictional regulatory clearance process with an uncertain outcome along with a complex and volatile mix of equity and cash.”

Paramount

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