Streaming giant Netflix appeared to win the bidding war for Warner Bros. Discovery last week, when the two firms announced their merger. Within days, however, Paramount announced its hostile bid, meaning Paramount plans to appeal to Warner Bros. Discover shareholders in an effort to overcome the wishes of management.

Saturday Night Live” opened this week’s episode with Donald Trump commenting on the battle to buy Warner Bros. Discovery - by asking why anyone would even want to buy the studio: “They’ve got one of the worst studio lot tours in LA,

Warner Bros. controls some of the most valuable franchises in the world, along with a deep catalog of assets that continue to drive consumption. Folding this into a global streaming infrastructure gives Netflix something it has never fully possessed: the durable multigenerational IP that supports theme parks,