On Friday, 5, Netflix announced that it would be acquiring Warner Bros. in a deal worth $82.7 billion. That made them the winners of a bidding war that kicked off in Sept

No, it’s not Netflix’s quest to acquire Warner Bros. Discovery. It’s Sumner Redstone’s long and painful struggle with Barry Diller to control Paramount three decades ago. The outcome reordered the media industry and created a new Hollywood dynasty.

The hostile offer may outmuscle Netflix on price, but WBD’s decision hinges on competing futures: a clean reset under Paramount or a deeper strategic alignment with the world’s dominant streamer.

Paramount is taking its case to Warner Bros. Discovery shareholders after launching a hostile takeover offer to pry the company away from Netflix.

Paramount just announced a $77.9 billion hostile takeover bid for Warner Bros. Discovery. The tender offer comes days after Netflix launched its $72 billion agreement to acquire the company.

In September, various outlets reported that Paramount was weighing a takeover of Warner Bros. Discovery; in October, Warner Bros. Discovery reportedly rejected several bids from Ellison’s company. Then Netflix swooped in and won the bidding war.

Paramount launched a $30-per-share offer for all of Warner Bros. Discovery, after the company chose Netflix's bid for its streaming and studio assets.

Just a few weeks ago, David Zaslav was offered a co-CEO gig by David Ellison in a Paramount-owned Warner Bros Discovery. Then Netflix swooped in and sealed a $83B deal for WB’ streaming and studio holdings before Ellison came roaring back with a $108 billion hostile tender offer for all of WBD,

Hollywood industry employees won't get a say in WBD's fate — except when it comes to deciding who should take home Oscars.

A core argument of Paramount Skydance’s hostile takeover bid for Warner Bros. Discovery is this: WBD’s cable networks like CNN and TBS are not worth as much as the David Zaslav-led company’s deal with Netflix implies,