Paramount Skydance has launched a hostile takeover for Warner Bros. Discovery its announced deal with Netflix , the company announced in a press release on Monday (December 8).

Paramount, which was widely expected to be the frontrunner to purchase Warner Bros. Discovery, is now going directly to shareholders with an all-cash offer said to be worth $30 per share, equating to $108.4 billion in enterprise value, which exceeds the $27.75 per share deal with Netflix reported on Friday (December 5).

"WBD shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company. Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker

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