Netflix announced plans on Friday to acquire Warner Bros. Discovery’s studio and streaming business, in a deal that would send shock waves through Hollywood.

On Monday, Paramount made a hostile bid for the studio, arguing that the Netflix deal would be “anti-competitive.”

The Times journalists Nicole Sperling, Kyle Buchanan and Lauren Hirsch discuss what it all means for the future of TV and film.

Guest: Nicole Sperling, a New York Times reporter in Los Angeles who covers Hollywood and the streaming revolution. Kyle Buchanan, a pop culture reporter and the awards-season columnist for The New York Times. Lauren Hirsch, a New York Times reporter who covers the biggest stories on Wall Street, including mergers and acquisitions.

Background reading: Netflix planned to buy Warner Bros. Discovery in $83 billion deal to create a streaming giant. Paramount made a hostile bid for Warner Bros. Discovery.

Photo: Aleksey Kondratyev for The New York Times

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