Paramount has launched a hostile bid for the company that's home to Casablanca, Batman and CNN. Just Friday, Netflix and Warner Brothers executives were celebrating a deal they had struck.

A video spreading across platforms purports to show the Netflix logo painted over the historic water tower at Warner Bros. Studios as the streaming powerhouse seeks to buy the global media giant's film and television studios and streaming services amid a bidding war with Paramount.

Netflix stunned the media world on Dec. 5 by making a deal to acquire Warner Bros. Discovery for $83 billion. Iconic Warner Bros. brands, shows and characters — HBO, “Game of Thrones,” Batman and Harry Potter,

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The decision to inject himself is particularly extraordinary given the president’s own conflicts and interests, according to legal experts.

Since Netflix's deal was confirmed last Friday (December 5), Paramount has since launched a cash bid of $100 billion, with the studio stating that Warner Bros. Discovery "never engaged meaningfully" with their previous attempts to negotiate a deal.

“Just yesterday, my beloved parent company, Paramount, reportedly launched a hostile takeover bid for Warner Bros valued at $108 billion,” the late-night host said on Tuesday’s (December 9) Late Show. “Wow. I gotta say, if my company’s got that kind of green, I’m sure they can afford to un-cancel one of their best shows.”

Netflix sent a note of triumph to subscribers after the company sealed a deal to buy Warner Bros. Discovery, but now Paramount has sent a letter to WBD shareholders promoting its own deal and trashing Netflix.