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.

US President Donald Trump has flagged potential concerns over Netflix's planned $72bn (£54bn) deal to buy Warner Brothers Discovery's movie studio and popular HBO streaming networks. At an event in Washington DC on Sunday, he said Netflix has a "big market share" and the firms' combined size "could be a problem".

Netflix's $72 billion Warner Bros deal led to several price target cuts by Wall Street analysts as U.S. President Donald Trump warned of market-share concerns, underscoring the tough scrutiny that the acquisition is likely to face.

Paramount’s announcement comes after Netflix and WBD revealed their binding agreement Friday under which Netflix would buy Warner Bros.’s studio operations and HBO Max for $72 billion (with an enterprise value of $82.7 billion).

President Donald Trump suggested Sunday night that the $82.7 billion merger between Netflix and Warner Bros. Discovery may face difficulties being completed.

Netflix’s blockbuster deal to buy Warner Bros., including HBO, is the latest twist in a rivalry that has reshaped the entertainment industry.

Netflix's planned acquisition of Warner Bros. Discovery's studio and streaming assets would build a $6.6 billion annual recurring revenue (ARR) across Asia Pacific and reshape global entertainment economics,

Downgrading his rating on Netflix shares from "buy" to "hold," Pivotal Research Group analyst Jeff Wlodarczak says the megadeal reflects its concern that short-form is "is doing to streaming what streaming has done to traditional TV.