Money manager Mario Gabelli said it’s “highly likely” he will tender his clients’ Warner Bros. Discovery Inc. shares to Paramount Skydance Corp. in an effort to spark a bidding war for the film and TV company.

Paramount Skydance Corp. launched a hostile takeover bid for Warner Bros. Discovery Inc. at $30 a share in cash, just days after the company agreed to a deal with Netflix Inc. The offer values Warner Bros. at $108.4 billion, including debt. The bid compares with Netflix’s offer of $27.75 in cash and stock, for an enterprise value of about $82.7 billion including debt. Paramount’s offer is for all of Warner Bros., while Netflix is interested only in the Hollywood studios, HBO and the streaming business. Laura Martin Senior Analyst at Needham & Company joined Bloomberg Intelligence to discuss future of the Warner Brothers deal with Netflix and the hostile bid from Paramount. (Source: Bloomberg)

President Trump’s comments deepened his rift with mainstream European leaders over defense and Ukraine policy.

© Doug Mills/The New York Times

Just hours before Paramount Skydance Corp. Chief Executive Officer David Ellison launched a hostile bid for Warner Bros. Discovery Inc., he hobnobbed in Washington with some of the federal government’s heaviest hitters.