The escalating bidding war for Warner Bros. Discovery is heating up as Paramount Skydance has made a "best and final" $31-per-share all-cash offer, officially pressuring the Warner Bros. board to reconsider its existing merger agreement with Netflix. Geetha Ranganathan, Senior Media Analyst, Bloomberg Intelligence, tells us who might emerge victorious and what the outlook is for the rest of the sector in 2026.

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