Paramount sent a letter from CEO David Ellison addressed to Warner Bros. Discovery shareholders that 'clearly sets out why Paramount’s $30.00 per share all-cash offer to acquire all of WBD is superior to WBD’s transaction with Netflix.

Paramount continues to take its case to Warner Bros. Discovery shareholders after launching a hostile takeover offer to pry the company away from Netflix. “Dear Warner Bros. Discovery Shareholder,” Paramount CEO David Ellison wrote in an open letter published today,

No, it’s not Netflix’s quest to acquire Warner Bros. Discovery. It’s Sumner Redstone’s long and painful struggle with Barry Diller to control Paramount three decades ago. The outcome reordered the media industry and created a new Hollywood dynasty.

Netflix now trades 30% off its all-time high. At a price-to-earnings ratio of 38, Netflix, a company that analysts (pre-acquisition) estimate will grow earnings at an annualized rate of 23% over the long term, looks like a strong buy for long-term investors.

Paramount pitches Netflix as a European Union nonstarter, but regulators seem unfazed — and Trump may be the only audience that matters.

After winning the award for best game adaptation for HBO series The Last of Us, Druckmann took to the stage to make his speech. In the clip, now posted on Twitter, the Naughty Dog Studio Head thanked the relevant studios before adding, "Do we need to thank Netflix or Paramount, or whoever our streaming overlord is now?"

The hostile offer may outmuscle Netflix on price, but WBD’s decision hinges on competing futures: a clean reset under Paramount or a deeper strategic alignment with the world’s dominant streamer.

A core argument of Paramount Skydance’s hostile takeover bid for Warner Bros. Discovery is this: WBD’s cable networks like CNN and TBS are not worth as much as the David Zaslav-led company’s deal with Netflix implies,