PARAMOUNT ON MONDAY LAUNCHED A HOSTILE TAKEOVER BID FOR WARNER BROS. DISCOVERY, INITIATING A POTENTIALLY BRUISING BATTLE WITH NETFLIX FOR THE COMPANY BEHIND HBO, CNN AND DC STUDIOS.

PARAMOUNT SAID IT IS GOING STRAIGHT TO WARNER BROS. SHAREHOLDERS WITH A BID WORTH ABOUT $74.4 BILLION.

IT'S ALSO OFFERING TO BUY THE CABLE ASSETS OF WARNER BROS., AND IS ASKING SHAREHOLDERS TO REJECT THE NETFLIX BID.

ON FRIDAY NETFLIX STRUCK A DEAL TO BUY WARNER BROS. DISCOVERY. THE TRANSACTION IS EXPECTED TO CLOSE IN THE NEXT 12 TO 18 MONTHS.

BUT PRESIDENT DONALD TRUMP SAID SUNDAY THAT THE DEAL “COULD BE A PROBLEM” BECAUSE OF THE SIZE OF THE COMBINED MARKET SHARE.

SOUNDBITE (English) Donald Trump, US President:

"Well, that's got to go through a process and we'll see what happens."

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"it's a lot of market share. So we'll have to see what happens."

THE PRESIDENT SAID HE WILL BE INVOLVED IN THE DECISION ABOUT WHETHER THE FEDERAL GOVERNMENT SHOULD APPROVE THE $72 BILLION DEAL.