Paramount extends hostile takeover bid for Warner Bros. Discovery, offering $30 per share with a total enterprise value over $108 billion. 168.5 million shares have been tendered, falling short of the 50% mark needed for control. Paramount promises a proxy fight and files materials to oppose the Netflix merger. Meanwhile, Warner’s board backs the $72 billion Netflix deal, simplifying the transaction. Netflix’s bid focuses on Warner’s studio and streaming business, while Paramount’s bid includes the entire company. Antitrust scrutiny and potential political involvement from Donald Trump loom over the long sale process.

Read more at Yahoo Finance: Paramount extends its deadline for its Warner Bros. Discovery tender offer, again