Paramount Skydance launched a hostile bid Monday to buy Warner Bros. Discovery, mere days after Netflix struck an $83 billion deal to acquire the media conglomerate.
Paramount Skydance, which took shape this year under CEO David Ellison, said it would be bringing an all-cash offer directly to Warner Bros. Discovery shareholders. The unsolicited bid, whose financial backers include President Donald Trump’s son-in-law Jared Kushner, is for the entire company, including CNN and other cable networks that were to be spun off into a separate company for Netflix’s cash-and-stock proposal.
