Netflix, Paramount and hostile bid
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Paramount's bid to acquire Warner Bros. over Netflix has turned hostile as the company aims to acquire a higher stake in television.
David Ellison fought hard to win Warner Bros. Discovery. But despite his strenuous efforts, he lost out to Netflix — and now Ellison is switching from carrots to sticks: Paramount Skydance is taking its case directly to shareholders in a hostile takeover bid for WBD.
Some of Wall Street’s biggest rainmakers are vying for a windfall as the Paramount-Netflix bidding war for Warner Bros Discovery reaches a climax, capping a blockbuster year for mergers and acquisitions.