Competition shrinks as bid for Warner Bros hots up

Netflix’s move, announced on December 5, to acquire Warner Bros. Discovery (WBD) for a gargantuan $83 billion — and the counter hostile bid by Paramount at $108 billion — has roiled Hollywood and the global entertainment industry. It signals that the already tight monopoly of big entertainment players — Disney, Paramount, Warner Bros., Sony Pictures, and Comcast — is getting even tighter; that the battle is now entirely about streaming; and that the days of the “big screen” may be nearing their end.