Paramount Skydance has made a USD 108.4 billion bid to acquire Warner Bros Discovery. This bid comes a few days after Netflix had announced that it had acquired the media conglomerate for USD 82.7 billion.

While Netflix's note stated that the move was complete subject to regulatory approvals, Paramount's bid may change that stance.

According to media reports, The Warner Bros Discovery board 'firmly stands' behind Netflix's offer, but is contemplating that bid.

Paramount's proposal is supported by financial backers including Jared Kushner and Middle Eastern funds, claims superior benefits including a smoother regulatory path.

Paramount was among the potential purchasers of Warner Bros Discovery, before Netflix swooped in to agree terms.