Paramount Claims WBD Is Overvaluing CNN, TBS and Other TV Networks - Alleging That Means Netflixs Deal Is Worse for Shareholders

A core argument of Paramount Skydances hostile takeover bid for Warner Bros. Discovery is this: WBDs cable networks like CNN and TBS are not worth as much as the David Zaslav-led companys deal with Netflix implies, Paramount claims. Its hard to do an apples-to-apples comparison of the two proposals. But heres how the math works []