On Friday, December 5, Netflix announced that it would be acquiring Warner Bros. in a deal worth $82.7 billion. That made them the winners of a bidding war that kicked off in September, when Paramount just out of nowhere went, “hey, Warner Bros., mind if I buy you?” But Paramount’s not quitting just yet. On Monday, December 8, Paramount launched its own hostile takeover bid of Warner Bros. with an offer worth $108.4 billion.
What is going on? Why is everyone going after Warner Bros.? And how is this going to impact TV and film going forward? Let’s break it down.
