WBD’s shareholders expect Paramount to bump up its existing $30 per share offer, which values the whole company including debt at $108bn. And Paramount chief executive David Ellison made clear that the bidding could go higher, disclosing in a regulatory filing on Monday that his offer was not the “best and final”.

A video shared online soon after Netflix announced it was acquiring Warner Bros. was edited so the Netflix logo would be on the iconic water tower.

H ollywood has produced another gripping drama. Netflix’s and Paramount’s $100bn battle to buy Warner Bros Discovery has juicy plot ingredients, from an ambitious billionaire to mysterious Saudi investors and even a cameo from the president’s son-in-law. As the studio weighs its options, expect weeks of entertainment.

As the battle between Netflix and Paramount over who will own Warner Bros heats up again, Disney CEO Bob Iger on Thursday strategically stepped in with some opinions of his own. With his eyes on the streaming wars endgame,

The Anora director has strong feelings about Netflix's impending purchase of Warner Bros.

Paramount's David Ellison said that if Warner Bros. Discovery's board took his current offer, it would be "admitting breach of fiduciary duty."

A future Congress controlled by Democrats would “review many of the decisions of the current Administration,” two House Democrats said Wednesday.