The Paramount Skydance (PSKY) launched an all-cash tender offer to acquire Warner Bros Discovery (WBD) for $30 per share.The proposed deal values WBD at $108.4 billion.The offer covers 100% of WBD, including its global networks segment.Paramount has taken the offer directly to WBD shareholders.Equity financing will be backstopped by the Ellison Family and RedBird Capital, with additional debt fully committed by Bank of America, Citi, and Apollo.Paramount argues the Netflix transaction provides WBD shareholders with inferior and uncertain value.The offer is not subject to any financing conditions.Paramount will submit a premerger notification filing today under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.David Ellison (CEO of Paramount Skydance) is on CNBC touting his offer in relation to Netflix saying that the all-cash is a game changer. Says that he believes Pres. Trump is in favor of competitivenessif this deal is aloowed to pass it is anticompetitive and horrible for HollywoodWe believe that what we offer is better for Hollywood and better for the customersAbsolutely it would be beneficial for Hollywood. We will bring 30 movies per year to the big screen.This deal if it moves forward would be the death of movies in theaters.Our deal is a faster and superior path to close.Reiterates that the proposals is backstopped by Ellison family, Redbird capital.New deal addresses all the issues that Warner Bros. asked for.We believe there has been an inherent bias in the decision at Warner Bros. Says we did not hear back from Warner Bros. Looking at the respective stocks in premarket trading :Warner Bros. discovery shares are up 6.21% and $27.70Netflix shares are near unchanged at $100.27. Paramount Skydance shares are currently up 5.09% at $14.05. This article was written by Greg Michalowski at investinglive.com.