According to sources close to the matter, the Ellisons' bid is the largest hostile takeover attempt in the history of the global media industry. The proposal, which values Warner Bros. Discovery at $108 billion, is significantly higher than the company's current market capitalization of around $96 billion. The bid is seen as a bold move by the Ellisons, who are known for their aggressive business tactics and willingness to take risks.

"We believe that Warner Bros. Discovery has tremendous potential for growth and expansion, and we are confident that our team can unlock that potential," said David Ellison, CEO of Paramount, in a statement. "Our father-son partnership has been instrumental in driving our success, and we believe that our combined expertise and resources will enable us to take Warner Bros. Discovery to new heights."

Larry Ellison, the billionaire co-founder of Oracle, has been instrumental in driving the bid, according to sources. The 81-year-old entrepreneur is known for his shrewd business acumen and his ability to think outside the box. "My son and I have a deep understanding of the media industry, and we believe that we can bring a fresh perspective to Warner Bros. Discovery," said Larry Ellison in an interview with The New York Times.

The Ellisons' bid is seen as a significant challenge to the current leadership of Warner Bros. Discovery, which has been struggling to adapt to the changing media landscape. The company has faced criticism for its handling of the merger between Warner Bros. and Discovery, which was completed in 2021. The merger was seen as a bold move by the company's leadership, but it has struggled to deliver the expected synergies and cost savings.

Industry insiders and analysts are divided on the merits of the Ellisons' bid. Some see it as a bold move that could unlock the potential of Warner Bros. Discovery, while others view it as a risky and potentially costly move. "The Ellisons' bid is a game-changer for the media industry," said one analyst. "It's a bold move that could either pay off big or end in disaster."

The Ellisons' bid is the latest development in a rapidly changing media landscape. The global media industry is undergoing a significant transformation, driven by the rise of streaming services and the increasing importance of digital content. Warner Bros. Discovery is one of the largest players in the industry, with a portfolio of iconic brands and a significant presence in the global market.

The current status of the bid is uncertain, with Warner Bros. Discovery's leadership expected to respond to the Ellisons' proposal in the coming days. The company's board of directors is likely to meet in the near future to discuss the bid and determine the company's next course of action. The outcome of the bid is far from certain, but one thing is clear: the global media industry is on the cusp of a significant transformation.