Paramount continues to take its case to Warner Bros. Discovery shareholders after launching a hostile takeover offer to pry the company away from Netflix.

“Dear Warner Bros. Discovery Shareholder,” Paramount CEO David Ellison wrote in an open letter published today, “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. 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, committed to putting my own money in, and that is why I am writing to you today.”

He recapped the last few months that saw Par make six offers to buy WBD, the latest being for $30 in cash. All were rejected and Warner on Friday agreed to sell its studio and streaming business to Netflix. Paramount called foul, saying it’s offer was financially superior and less risky and took the offer to stockholders directly, over the head of WBD board and management. That meaning Paramount will buy their shares directly if they will sell. “IT IS  NOT TOO LATE TO REALIZE THE BENEFITS OF PARAMOUNT’S PROPOSAL IF  YOU CHOOSE TO ACT NOW AND TENDER YOUR SHARES,” read the letter in all caps.

“Paramount Has Air Tight Financing to Deliver on its Offer to You,” the letter said. The company will work “collaboratively with the relevant authorities” — i.e. regulators — on the review process “and deliver this transaction to you and our other stakeholders.”

It said “WBD’s transaction with Netflix, on the other hand, appears to be in for a long and bumpy ride as it navigates the global regulatory review process” given its dominance in streaming.

The arguments echo those in the hostile tender offer announcement and a flurry of SEC filings since. Paramount set a Jan. 8 deadline for WBD stockholders to tender their shares but that could be extended. There is going to be a lot of noise and a major PR offensive as Paramount seeks to convince WBD shareholders to shrug off a deal that already approved by the board of directors and look to the Ellison’s instead.

Warner has ten days to respond to the hostile offer.

Netflix co-CEOs said this week they fully expected the move by Paramount and are confident of closing their deal.

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