The bidding war between Paramount and Netflix over the acquisition of Warner Bros. Discovery appeared to come to a close last week, when Netflix backed out. The Times journalists Nicole Sperling, Lauren Hirsch and Jonathan Mahler discuss this Hollywood drama fit for the big screen, and why it could reshape our political and cultural landscape. Guest: Nicole Sperling, a New York Times reporter in Los Angeles, covering Hollywood and the streaming revolution. Lauren Hirsch, a New York Times reporter who covers the biggest stories on Wall Street, including mergers and acquisitions. Jonathan Mahler, a staff writer for The New York Times Magazine. Background reading: Paramount raised its bid for Warner Bros. Discovery last week. Netflix lost Warner Bros., but maybe that’s a good thing. Photo: Ricardo Nagaoka 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. Hosted by Simplecast, an AdsWizz company.