Paramount , a Skydance Corporation, has launched an all-cash tender offer to acquire all outstanding shares of Warner Bros. Discovery, Inc . for $30 per share , valuing the company at an enterprise value of $108.4 billion . The proposal covers the entirety of WBD, including its Global Networks segment.

Paramount described its bid as “strategically and financially superior” to Warner Bros. Discovery’s existing agreement with Netflix. The company argues that the Netflix offer presents “inferior and uncertain value,” citing a complex mix of cash and stock, high execution risk, and a lengthy multi-jurisdictional regulatory approval process. Paramount said its offer provides $18 billion more in cash than the Netflix consideration.

Despite Paramount submitting six proposals over the

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