Just three days after Warner Bros. Discovery agreed to sell its storied movie and TV studio to Netflix, the script has flipped.

On Monday, Paramount Skydance launched a hostile all-cash takeover bid for all of Warner Bros. Discovery, offering shareholders $30 per share in cash and valuing the company at $108.4 billion, according to a company statement .

The move is designed to derail Netflix’s previously announced cash-and-stock agreement to buy Warner Bros.’ studios and streaming assets in a deal valued at $82.7 billion

What Paramount is offering — and why it’s ‘hostile’

Instead of negotiating with Warner Bros. Discovery’s board, Paramount said it is going directly to shareholders with an all-cash tender offer for every share of the company, including its Global Networks business

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