The billion-dollar chess game has begun in the entertainment industry. Following last week’s $82 billion move, Skydance-backed Paramount has challenged Netflix. The company has thrown a record $108.4 billion bid to acquire Warner Bros. Discovery, upsetting the odds.

Paramount raises its hand in the Netflix battle

Paramount, dwarfing its rival’s offer, has completely changed the terms. While Netflix was only interested in Warner Bros.’ studio and broadcast divisions (HBO, etc.), Paramount is demanding the entire company, including its television channels. Furthermore, unlike Netflix’s mixed (cash and stock) offer, Paramount is offering an all-cash deal at $30 per share.

Paramount CEO David Ellison has openly stated that this is a hostile takeover. The company has previously made six offers to Warner Bros. management but received no response. Therefore, Paramount aims to eliminate management by presenting its offer directly to shareholders. Ellison intensified the competition by stating that shareholders deserve to see this superior, cash-only offer.

Another aspect of the competition is regulatory oversight. Paramount is positioning itself as the consumer-friendly side in the Paramount-Netflix dispute. The company argues that Netflix’s acquisition of Warner Bros. would create a monopoly controlling 43 percent of the market. Paramount’s own proposals are much closer to securing approval from competition authorities.

So, who do you think will win in this battle of the giants? Which side should Warner Bros. be sold to? Share your thoughts with us in the comments!