Offer for $30 a share for entire company comes after Netflix agreed to buy studio and streaming operation

David Ellison’s Paramount Skydance is not giving up in its aggressive campaign to acquire Warner Bros Discovery (WBD), launching a hostile bid despite the announcement on Friday that Netflix had agreed to buy the company’s studio and streaming operation.

Netflix’s accepted bid valued the company at $27.75 a share, though the entertainment company did not agree to acquire WBD’s traditional television assets, including the news network CNN.