Paramount has launched a $108.4 billion hostile takeover bid for Warner Bros. Discovery, calling Netflix’s $83 billion arrangement to purchase the entertainment giant’s studios and streaming service “inferior.” The Paramount proposal, unlike Netflix’s, would also include the linear networks owned by WBD.

Paramount says its deal offers a “superior alternative to the Netflix transaction,” citing the potential for a long regulatory approval process “with an uncertain outcome.” In an interview with CNBC’s David Faber, Paramount Chairman and CEO David Ellison dodged a question about whether his father, Larry Ellison, would sell shares to fund th …

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