Media

• Paramount Skydance launches hostile bid for WBD after Netflix wins bidding war - Netflix won a bidding war for the Warner Bros. film studio and HBO Max streaming service, but it doesn't plan to buy WBD's TV networks.
• The regulatory path ahead for a Netflix and Warner Bros. deal could get dicey - Regulatory questions are already rising about Netflix's deal to combine its business with WBD's streaming service HBO Max and film studio Warner Bros.
• David Ellison's hunt for WBD made David Zaslav richer — and it may not be over - Paramount is considering taking an offer straight to WBD shareholders, believing its deal has a better chance of gaining regulatory approval, sources told CNBC.
• Paramount questions Warner Bros. Discovery on 'fairness and adequacy' of sale process: Read the full letter - Paramount attorneys sent a letter to Warner Bros. Discovery questioning whether its acting in the best interest of shareholders.
• OpenAI is under pressure as Google, Anthropic gain ground - Sam Altman reportedly sent a memo to his staffers outlining a "code red" effort to improve ChatGPT.