Warner Bros announced today that it will not accept Paramount and Skydance’s $108 billion proposal. The board voted to keep the merger agreement it signed las

David Zaslav, president and CEO of Warner Bros. Discovery, would be out of a job if a deal is completed with Netflix or Paramount Skydance. Softening the blow: Zaslav stands to get hundreds of millions of dollars in cash and/or stock if WBD completes a sale to either company,

Paramount launched a $30-per-share offer for all of Warner Bros. Discovery, after the company chose Netflix's bid for its streaming and studio assets.

Unions have voiced growing concerns that further consolidation in the media industry will reduce competition and make it more difficult for people to find work.

A video spreading across platforms purports to show the Netflix logo painted over the historic water tower at Warner Bros. Studios as the streaming powerhouse seeks to buy the global media giant's film and television studios and streaming services amid a bidding war with Paramount.

After winning the award for best game adaptation for HBO series The Last of Us, Druckmann took to the stage to make his speech. In the clip, now posted on Twitter, the Naughty Dog Studio Head thanked the relevant studios before adding, "Do we need to thank Netflix or Paramount, or whoever our streaming overlord is now?"

In the corporate battle over parent company Warner Bros. Discovery, CNN's fate remains up for grabs. President Trump wants a say in what happens next.

"We haven’t determined whether we’ll take a position or not," the Disney CEO tells CNBC as Netflix and Paramount battle it out for control