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Paramount Counters Netflix With $108bn Bid for Warner Bros. Discovery

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Paramount has launched a surprise counteroffer for Warner Bros. Discovery (WBD), just days after Netflix unveiled plans to acquire the media giant in a deal valued at nearly $83 billion , including debt. The move sets the stage for what could become one of the most significant takeover battles in Hollywood’s history. In a statement on Monday, Paramount said it would take its $30-per-share all-cash offer directly to WBD shareholders. The proposal, which includes WBD’s Global Networks division, values the company at $108 billion, far higher than Netflix’s offer. Paramount also urged WBD’s board to reject Netflix’s bid. “We believe our offer will create a stronger Hollywood,” Paramount chief executive David Ellison said, adding that the proposal serves “the best interests of the creative community, consumers and the movie theatre industry.” The escalating contest has drawn political scrutiny. U.S. President Donald Trump has raised concerns about the potential concentration ...

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