Netflix announced plans on Friday to acquire Warner Bros. Discovery’s studio and streaming business, in a deal that would send shock waves through Hollywood. On Monday, Paramount made a hostile bid for the studio, arguing that the Netflix deal would be “anti-competitive.” The Times journalists Nicole Sperling, Kyle Buchanan and Lauren Hirsch discuss what it all means for the future of TV and film. Guest: Nicole Sperling, a New York Times reporter in Los Angeles who covers Hollywood and the streaming revolution. Kyle Buchanan, a pop culture reporter and the awards-season columnist for The New York Times. Lauren Hirsch, a New York Times reporter who covers the biggest stories on Wall Street, including mergers and acquisitions. Background reading: Netflix planned to buy Warner Bros. Discovery in $83 billion deal to create a streaming giant. Paramount made a hostile bid for Warner Bros. Discovery. Photo: Aleksey Kondratyev for The New York Times For more information on today’s episode, visit nytimes.com/thedaily. Transcripts of each episode will be made available by the next workday. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-access/audio?source=podcatcher. For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.