Paramount Skydance has made another offer to buy Warner Bros Discovery as it seeks to trump a rival plan from Netflix to buy the company's studio and streaming networks.
Paramount, which is backed by the billionaire Ellison family, said it was making a direct offer to shareholders of $30 (£22.50) per share to scoop up the whole of Warner Bros, including its traditional television networks.
It said its proposal was a "superior alternative" to Netflix's, delivering more cash upfront to shareholders and greater prospect of approval by regulators.
President Donald Trump has said "there could be a problem" with Netflix's purchase, pointing to competition concerns given the size of the companies.
Paramount is a smaller player than Netflix that is known for brands such as CBS News, Nickelodeon and Mission Impossible.
