Paramount starts a hostile takeover attempt of Warner Bros to beat Netflix.

Paramount is trying to buy Warner Bros. Discovery (WBD) with an aggressive new offer, directly challenging a previous deal made by Netflix.

On Monday, Paramount made an offer to buy the company for $30 per share in cash. This "hostile offer" sets up an intense competition between Paramount—which is owned by Larry Ellison, a supporter of Donald Trump—and the massive streaming company Netflix to gain control of one of Hollywood’s most famous studios.

Last week, Netflix caused a stir in the industry by announcing it had agreed to buy the Warner Bros. studio. This news led to strong criticism from people in Hollywood who are worried about the future of their business.

On Sunday, Trump shared his opinion, saying Netflix buying Warner Bros. "could be a problem" because it would give them too big a share of the film and TV market.

David Ellison, the boss of Paramount, told CNBC, "We’re really here to finish what we started," as his company made its sixth offer since the bidding war began.

Unlike the Netflix offer, Paramount's latest bid also includes important cable channels like CNN, TNT, TBS, and Discovery. If successful, these channels would be owned by a company with close links to the Trump government.

The offer values the entire entertainment company at $108.4 billion. This price is a massive 139 percent higher than WBD's stock price back in September, when the fight to buy the company started.

In a statement, Paramount described Netflix’s offer, which valued the studios at almost $83 billion, as "not as good and not certain."

“WBD shareholders deserve an opportunity to consider our superior all-cash offer,” Ellison said.

Over many years, Warner Bros. has made classic films such as “Casablanca” and “Citizen Kane,” alongside big, recent hits like “The Sopranos,” “Game of Thrones,” and the “Harry Potter” movies.

Paramount claims its offer is safer for regulators than the Netflix deal. They argue that Netflix buying WBD would give them a massive 43% share of all streaming customers globally, and this would likely lead to long and difficult regulatory problems around the world.

If Paramount's deal goes through, the new, combined company would bring together Paramount’s properties—which include Paramount Pictures, CBS, Nickelodeon, and Paramount+—with WBD’s assets, such as HBO Max and major sports broadcasting rights.

Paramount has stated that merging the companies would save more than $6 billion in costs. They also promised to keep releasing films in cinemas and spend more money on making new content.

Continuing to show movies in cinemas is a very important and sensitive subject for the creative industry in Hollywood.

Netflix is already unpopular with some people in Hollywood. This is mainly because they prefer not to release much of their content in cinemas and because they have changed how the traditional industry works.

Many experienced people in the film business believe that cinema releases are vital for a movie's appeal and reputation, and are necessary for keeping the Hollywood economy strong.

On Monday, Warner Bros. Discovery’s share price shot up by more than seven percent, while shares in Netflix dropped by over two percent.