Two of Hollywood’s oldest studios may be consolidating into one. In a shocking twist after a monthslong bidding war, Paramount has emerged as the apparent victor in the fight to acquire Warner Bros. Netflix,

Paramount emerged as the victor in the months-long battle for Warner Bros. Discovery after Netflix backed out of the bidding war on Thursday, leaving Paramount poised to acquire Warner’s vast media em...

That comes after the WBD board deemed Paramount's revised all-cash bid earlier this week of $31 per share, up from $30 per share, to be a superior offer to acquire the entire company.