Netflix, Paramount and hostile bid
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Paramount on Monday launched a hostile takeover offer for Warner Bros. Discovery, initiating a battle with rival bidder Netflix to buy the company behind HBO, CNN and a famed movie studio along with the power to reshape much of the nation's entertainment landscape.
Netflix won the bidding war for Warner Bros. Discovery’s (WBD’s) streaming and movie studio businesses last week. But Paramount Skydance isn’t relenting on its dreams of owning WBD and is pushing forward with a hostile takeover bid.