Days after the surprise announcement that Netflix had won the Warner Bros. Discovery auction, Paramount is mounting a hostile takeover of the storied media conglomerate. “We believe when they see what is currently in our offer, then that’s what they’ll vote for,” Paramount CEO David Ellison said of shareholders in a CNBC interview Monday. “We’re really here to finish what we started.”

Paramount had been seen as a frontrunner to acquire Warner and its assets, including CNN. But Netflix beat out Ellison on Friday, announcing that it had entered into an agreement to buy WBD for $82.7 billion. Warner CEO David Zaslav said in a statement that the deal between the streamer and the legendary studio—whose name is synonymous with the Old Hollywood system Netflix upended—combined “two of

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