Netflix is reportedly leading the bidding war to acquire Warner Bros. Discovery in a deal valued at nearly $83 billion. The streaming giant has submitted the highest bid of $28 per share, mostly in cash, surpassing competitors like Paramount, which offers around $24 per share, including TV assets such as CNN, TNT, and TBS. Warner Bros. Discovery, which owns major film studios, HBO, and CNN, had initially planned to split into separate companies for streaming and traditional TV but abandoned those plans after receiving multiple takeover offers. The potential merger could significantly alter the media landscape, giving Netflix access to Warner's valuable film rights, including franchises like Harry Potter and Game of Thrones. The market reaction has been cautious, with Netflix shares dropping 1.5% and Warner Bros. Discovery down 1.2% in pre-market trading. This acquisition is part of Netflix's broader strategy to expand beyond traditional subscription services into video games and live entertainment, leveraging Warner's extensive media rights. Meanwhile, the deal faces scrutiny from antitrust authorities in the US. In related industry news, other sectors showed mixed reactions: Tesla announced a new, more affordable Model 3 for Europe, starting deliveries in February 2026; German industry remains resilient despite economic challenges, with positive growth in Q3; and global markets experienced slight declines amid anticipation of US inflation data and upcoming Federal Reserve interest rate decisions. Overall, the media merger represents a major shift in entertainment industry dynamics, with Netflix positioning itself as a dominant player in both content production and distribution.