From PBS NewsHour.

A bidding war for Warner Bros. Discovery is brewing. Paramount Skydance on Monday launched a hostile all-cash offer directly to the company’s shareholders valued at some $108 billion. It comes just days after Netflix agreed to a $72 billion deal to buy the company’s TV, movie studio and streaming assets. Paramount’s counteroffer would buy those businesses, plus CNN, among others.

Paramount is run by the Ellison family, which has close ties to President Donald Trump. And its offer includes financing from Affinity Partners, the investment firm run by Trump’s son-in-law Jared Kushner.

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