“Saturday Night Live” opened this week’s episode with Donald Trump commenting on the battle to buy Warner Bros. Discovery - by asking why anyone would even want to buy the studio: “They’ve got one of the worst studio lot tours in LA,

The spotlight is on crown jewels HBO, studios, the Warner Bros. film vault and DC Comics – but the fate of Warner Bros. Discovery could rest on the value of its much-maligned cable TV portfolio. Discovery Global Networks,

Given that Trump has an interest in the deal—even though it’s one that appears to favor Paramount—handicapping the outcome is a fool’s errand.

NEW YORK (AP) — Warner Bros. Discovery’s friendly agreement to sell itself to Netflix just got upended by a hostile actor -- Paramount, which made Warner shareholders a higher offer and touched off what is likely to be a lengthy fight in the latest episode of media industry consolidation.

The offer to shareholders comes days after Warner Bros. agreed to sell its streaming and studio business to Netflix.

Mike Schur, the longtime TV writer known for laying the pen down on iconic shows like "The Office" and "Parks and Recreation," shunned the idea of any form of a multi-studio merger with Warner Bros. Discovery since the industry and its consumers will suffer.

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

DiscoveryThe M&A saga captivating Hollywood has taken another dramatic twist.Paramount Skydance on Monday made a $77.9 billion hostile takeover bid for all of Warner Bros. Discovery, escalating its battle against Netflix for the storied entertainment giant.