Paramount is going nuclear all over Netflix as the entertainment giant has put. hostile bid for Warner Bros. Discovery directly challenging Netflix’s recent US$82.7 billion takeover agreement with the company.

Paramount said Monday that it is going straight to Warner Bros. shareholders with a $30 per share in cash offer for the entirety of Warner Bros. Discovery, including its Global Networks segment, asking them to reject the deal with Netflix.

Paramount criticized the Netflix offer, saying it “exposes WBD shareholders to a protracted multi-jurisdictional regulatory clearance process with an uncertain outcome along with a complex and volatile mix of equity and cash.”

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