Paramount Skydance has made a fresh offer of over $108 billion to acquire Warner Bros Discovery, in a move aimed at outbidding a rival proposal from Netflix to purchase the company’s studio and streaming networks.

The company, backed by the billionaire Ellison family, announced that it has submitted a direct offer to shareholders of $30 per share to acquire the entire company, including its traditional television networks.

Paramount described its proposal as a “superior alternative” to Netflix’s bid, stating that it would deliver more cash upfront to shareholders and have a better chance of securing regulatory approval.

President Donald Trump has also raised concerns about Netflix’s proposed deal, saying “there could be a problem,” citing potential competition issues given the size of both companies.

According to Paramount, its offer valued Warner Bros Discovery at $108.4 billion.

Netflix’s proposal, by comparison, valued Warner Bros.’ studio and streaming businesses, including HBO, at approximately $83 billion.