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Paramount CEO David Ellison has sent a new letter taking its $30 per share all-cash offer for Warner Bros. Discovery directly to shareholders, slamming Netflix’s $82.7 billion deal and calling the financing for his own $108.4 billion bid “air-tight.”

“Paramount began pursuing Warner Bros. Discovery (“Wbd”) because we, along with our partner RedBird Capital, believe we are the best stewards not only to build long-term value for the asset but also delight audiences and help cultivate a more vibrant creative community,” the letter states. “We funded, founded and then merged Skydance with Paramount and know the sacrifices and investment it takes to capitalize and grow a media business. I am passionate and dedicated to this pursuit,…

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