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A bidding war for one of America’s biggest media companies is colliding with Trump-era power

Poynter · Tom Jones · last updated

Oh, remember that big breaking story about how Netflix snuck in with a winning bid to buy Warner Bros. Discovery in a mega-media deal?

Uh, not so fast.

Paramount has launched a hostile takeover bid to snatch Warner Bros. Discovery away from Netflix in a media fight that sure is going to be, well, hostile.

Just last week, Netflix stunned the business and media world by announcing an $83 billion bid for most of Warner Bros. Discovery, including its film and TV studios, its gaming business, HBO Max and HBO. Left just as stunned were Paramount and CEO David Ellison, the overwhelming favorites to buy the whole Warner Bros. Discovery package, including its cable news properties such as CNN and TNT.

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