Warner Bros battle escalates: Paramount accuses board of ‘cheating’

Paramount has launched a hostile $74.4 billion takeover bid for Warner Bros. Discovery, directly challenging Netflix’s previously agreed-upon $72 billion deal. Paramount’s offer, backed by Oracle’s Larry Ellison, provides more cash and aims to acquire the entire company, including its cable business. Paramount claims Warner management ignored earlier bids and favors Netflix’s proposal, which they deem inferior and uncertain.