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Maroc Maroc - WN.COM - Entertainment - 09/Dec 06:24

Paramount counters Netflix with hostile bid for Warner Bros

WASHINGTON, D.C. — Paramount on Monday launched an all-cash tender offer to acquire Warner Bros. Discovery, the Hollywood giant that also owns CNN, in a challenge to Netflix's own highly contested deal. The hostile offer sets up a bidding war between Paramount — whose CEO is David Ellison, the son of Larry Ellison, an ally of Donald Trump — and streaming behemoth Netflix. Netflix shocked the industry last week by announcing it had sealed an agreement to buy the Warner Bros. studio, drawing bitter reactions from voices in Hollywood worried about the future of their industry. David Ellison's father Larry, one of...

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The offer would put CNN, HBO Max and Warner Bros under Trump ally Larry Ellison.

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