New Delhi, Dec. 14 -- On 5 December, Netflix signed an agreement to acquire Warner Bros. Discovery's (WBD) studio and streaming businesses for an enterprise value of $82.7 billion. WBD's board chose Netflix over the rival bidders Paramount Skydance and Comcast (via NBC Universal).

However, three days later, Paramount Skydance, led by CEO David Ellison (son of billionaire Larry Ellison), launched a hostile bid for the entire company, valuing WBD at roughly $108 billion. Ellison bypassed the WBD board, appealing directly to shareholders. The fight is now turning political, with unions voicing their opposition US President Donald Trump getting involved.

Netflix valued WBD's equity at about $72 billion, or $27.75 per share, offering $23.25 ...