00:00A major battle is rocking the world of entertainment in Hollywood, as Netflix faces off directly with Paramount to acquire the production giant Warner Bros. Discovery.
00:14The race began on December 5th, when Netflix submitted an offer of $27.75 per share, targeting Warner's Hollywood Studios, the HBO brand, and its streaming business.
00:30Just days later, Paramount launched a surprise counteroffer, proposing $30 per share in cash, valuing Warner Bros. Discovery at more than $108 billion, including debt.
00:45Unlike Netflix's selective bid, Paramount is seeking full ownership of the company.
00:53Markets reacted quickly to the escalating competition.
01:04Both offers have raised major antitrust concerns, as regulators examine the potential impact of this merger on the already crowded streaming market.
01:14Political scrutiny over the deal has also intensified.
01:17I have to see, I have to see what percentage of market they have.
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