Paramount's hostile takeover bid just upended Netflix's big merger.Just days after Netflix (NFLX 3.55%) and Warner Bros. Discovery (WBD +4.54%) agreed to a blockbuster $72 billion deal to buy most of the company's assets, there's now a twist.Paramount Skydance (PSKY +7.26%), which was believed to be the original frontrunner, is going directly to shareholders with a hostile takeover offer. Paramount is offering a slightly higher price for the entire business, which includes cable channels like CNN and TNT an ...