Paramount Reaffirms Hostile Bid for Warner Bros, Slams Cable Channel Value

• Paramount reiterated its $30/share cash offer for Warner Bros. Discovery, calling it superior to Netflix's bid.
• Paramount argues WBD's cable channels (TNT, CNN) are worthless due to streaming shift and Versant Media Group's poor market debut.
• Larry Ellison provided an irrevocable $40.4 billion equity financing guarantee for Paramount's offer.
• Warner Bros. has repeatedly rejected Paramount's bids, citing financing concerns and preferring Netflix's $27.75/share offer.
• Netflix's bid focuses on WBD's studios and streaming, with cable channels spun off into Discovery Global.

Why It Matters: Paramount pushes its "superior" Warner Bros. bid, valuing cable channels at zero amid Netflix competition.