Beyond a greenlight from shareholders, both takeover bids face tremendous regulatory scrutiny. A change in ownership at Warner would drastically reshape the entertainment and media industry, impacting movie making, consumer streaming platforms and, in Paramount`s case, the news landscape

Netflix reassured its 301 million subscribers that despite acquiring Warner Bros., both platforms will continue to operate separately for now. The USD 82.7 billion deal awaits regulatory approvals and is expected to close within 12–18 months