What happened

Paramount Skydance, Comcast and Netflix Thursday submitted rival bids for Warner Bros. Discovery, seeking all or part of the media giant’s studio, streaming and cable network assets, several news organizations reported.

Paramount , which was rebuffed in three previous unsolicited bids, was the only contender “pursuing all of Warner Discovery,” including CNN and its other cable channels, The Wall Street Journal said, while Netflix and Comcast were “bidding only for the studios, HBO and streaming service HBO Max.”

Who said what

The outcome of the bidding war “could alter the trajectory of the entertainment business,” The New York Times said. Warner CEO David Zaslav “was said to be enthusiastic about a potential bid from Netflix,” which notably pledged to “continue thea

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