Paramount challenges Netflix with hostile takeover bid for Warner Bros.
Paramount has launched a $108.4 billion (about $150 billion Canadian) hostile takeover bid for Warner Bros. Discovery (WBD), directly challenging Netflix’s recently announced plans to acquire the entertainment giant. In a press release, Paramount said Netflix’s $82.7 billion (about $114.5 billion Canadian) is of “inferior” value to WBD shareholders, arguing it would lead to a…