Warner Bros has once again rejected Paramount's takeover bid, recommending shareholders to support Netflix's rival offer of 72 billion dollars.

Warner Bros recently rejected a new takeover attempt from Paramount, urging its shareholders to support the $72 billion offer from Netflix. Warner Bros management stated that the Paramount proposal, valued at $77.9 billion, does not best serve the interests of the company or its shareholders. Netflix proposes to acquire only the studio and streaming operations of Warner, including the HBO Max platform, while Paramount wants to take over the entire company, including the CNN and Discovery networks.

If the Netflix offer is accepted, Warner's news and cable operations will be separated. Both offers will be subject to rigorous antitrust analysis. Paramount, controlled by the Ellison family, made a cash offer for the entire company, including CNN. This competition between the two major entertainment companies could change the landscape of the film and television industry.