Paramount Skydance makes $108.4 billion bid for Warner Bros. Discovery, following Netflix deal

Paramount | Courtesy: MGN

Paramount Skydance on Monday made an $108.4 billion unsolicited takeover offer for Warner Bros. Discovery, with its all-cash bid coming just three days after Netflix agreed to buy Warner Bros. in a deal valued at $82.7 billion.

Warner Bros. Discovery “shareholders deserve an opportunity to consider our superior all-cash offer for their shares in the entire company,” Paramount Skydance CEO David Ellison said in a statement. “Our public offer, which is on the same terms we provided to the Warner Bros. Discovery Board of Directors in private, provides superior value, and a more certain and quicker path to completion.”

Paramount Skydance is the parent company of CBS News.