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Paramount has launched a $108.4bn (£81bn) hostile bid for Warner Bros, challenging Netflix, which had reached a $72bn (£54bn) takeover deal with the company.
Paramount said on Monday that it was going straight to Warner Bros Discovery (WBD) shareholders with a $30 (£22.50) per share in cash offer for the entirety of the company, including its Global Networks segment, asking them to reject the deal with Netflix.

On Friday Netflix struck a deal to buy WBD, the Hollywood giant…

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