Paramount Skydance extends bid for Warner Bros acquisition.

The Ellison-owned media giant, Paramount Skydance, has extended the deadline for its hostile tender offer for Warner Bros Discovery by a month, now giving investors until February 20 to consider its $77.9bn bid. Despite having more than 168.5 million Warner shares tendered in support of its offer, Paramount still falls short of gaining control of the company. The battle for Warner, involving bids from Netflix and Paramount, could reshape Hollywood as the companies seek different assets, with Netflix focusing on Warner’s studio and streaming business, while Paramount aims to acquire the entire company, including news and cable operations.

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