Paramount Makes $108 Billion Hostile Bid for Warner Bros. (3)

The fight over the future of Hollywood just got nastier.

Paramount Skydance Corp. launched a hostile takeover bid for Warner Bros. Discovery Inc. at $30 a share in cash on Monday, just days after the company agreed to a deal with Netflix Inc. The offer values Warner Bros. at $108.4 billion, including debt.

The bid compares with Netflix’s offer of $27.75 in cash and stock. Paramount’s offer is for all of Warner Bros., while Netflix is interested only in the Hollywood studios, HBO and the streaming business.

Warner Bros. investors “deserve an opportunity to consider our superior all-cash offer for ...