Warner Bros has officially announced the resumption of discussions with Paramount, who remains intent on acquiring Warner. Paramount has given Warner a seven-day deadline to make a final counteroffer. This comes amidst existing competition, as both Paramount and Netflix have expressed interest in Warner Bros Discovery, highlighting the ongoing consolidation trends in the media industry.

The backdrop to this is last year's revelation that Netflix intended to acquire Warner's film and television studios, which has since added another layer of complexity to the negotiations. Paramount's approach includes a hostile takeover bid, which allows the company to move forward despite Warner's management resistance. David Ellison, the head of Paramount, is making efforts to convince Warner's shareholders directly, suggesting a battle of influence is underway within the industry.

Paramount's offer encompasses all of Warner's assets, a move that would place major news outlets like CNN under the control of Trump's allies if successful. The current bid has been amended, with Paramount increasing its offer per share from $30 to $31, contingent upon Warner resuming negotiations, indicating that the stakes have been raised in this high-profile corporate skirmish.