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Una Hajdari

Berlusconi's MFE backs Paramount over Netflix in Warner Bros ownership battle

Paramount Netflix Warner Bros MfE Warner Silvio Berlusconi Pier Silvio Berlusconi United States CNN WBD

Italy's biggest media multinational MFE, formerly known as Mediaset, has stepped into the ongoing battle over the future of Warner Bros. Set up by the late former Italian Prime Minister Silvio Berlusconi, MFE said it favours Paramount's takeover bid over that of streaming giant Netflix.

After news of a deal between Netflix and Warner Bros in November, Paramount made a shock bid last week, announcing that it was going straight to Warner shareholders with an alternative takeover offer.

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