The fight in Hollywood to buy Warner Bros Discovery is shaping up to be a blockbuster.
Paramount Skydance, backed by the billionaire Ellison family, has been wooing Warner Bros for months, hoping to join forces with the storied Hollywood name as the media company struggles to compete with the likes of Netflix and Disney.
So far, Warner Bros has spurned its proposals. Then it announced a deal to sell the most valuable parts of its business - its studio and streaming divisions - to Netflix instead.
Undeterred, Paramount chief executive David Ellison launched a hostile takeover bid, making his suit directly to shareholders.
In corporate deals, a hostile takeover is when a company moves to acquire another firm without the consent of the target company's management, typically by offering to buy its target's shares.
