New Delhi, Dec. 9 -- A bitter corporate feud has erupted in Hollywood as Paramount Global launches an aggressive $108.4 billion hostile bid for Warner Bros Discovery, with newly filed documents revealing that months of alleged stonewalling and unanswered communications from Warner Bros executives drove the media giant to bypass management and appeal directly to shareholders. The dramatic escalation comes just days after Netflix secured what appeared to be a winning $72 billion bid for Warner Bros' prized studio and streaming assets, only to find itself embroiled in a corporate battle that could reshape the entertainment industry.

Paramount's tender offer of $30 per share represents a stunning 139% premium over Warner Bros Discovery's mar...