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

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.

“It’s a truly significant case,” MFE CEO Pier Silvio Berlusconi said during a press conference at MFE’s…