Today, we’re talking about the bidding war over Warner Bros. Discovery, which is the biggest story in the entertainment industry right now, and for good reason. It has pretty much everything you could want in a buzzy Hollywood saga — big names, big money, and big drama.
To help me make sense of it all, I wanted to talk with Julia Alexander, a Verge alum and now media correspondent at Puck News who’s one of the best in the business at analyzing corporate strategy, Hollywood, and what’s next in entertainment. Julia really helped me break down why Netflix is the clear front runner to acquire Warner Bros., why David Ellison of Paramount Skydance is so desperate to win, and, perhaps most importantly, how the tech industry fits into this puzzle.
Links: 
<ul>
 <li>Netflix is buying Warner Bros. for $83 billion | <a href="https://www.theverge.com/news/838781/netflix-warner-bros-discover-bids-buyout">The Verge</a>
</li>
 <li>Paramount launches hostile $108 billion bid to snatch Warner | <a href="https://www.theverge.com/news/839813/paramount-skydance-warner-bros-discovery-hostile-takeover-bid">The Verge</a>
</li>
 <li>Netflix revises Warner Bros. bid to an all-cash offer | <a href="https://www.theverge.com/news/863318/netflix-warner-bros-discovery-merger-revision-cash-deal">The Verge</a>
</li>
 <li>Why Netflix needs Warner Bros. | <a href="https://puck.news/why-netflix-needs-warner-bros/">Puck News</a>
</li>
 <li>The Warner Bros. bidding war Is over | <a href="https://www.bloomberg.com/news/newsletters/2026-01-25/the-warner-bros-bidding-war-is-over">Bloomberg</a>
</li>
 <li>The Son King of Hollywood | <a href="https://www.vulture.com/article/larry-david-ellison-paramount-warner-bros-discovery-deal-hollywood.html">Vulture</a>
</li>
 <li>FCC Chair: ‘Legitimate competition concerns’ with Netflix’s Warner deal | <a href="https://variety.com/2026/tv/news/fcc-chairman-competition-concerns-netflix-warner-bros-deal-1236639469/">Variety</a>
</li>
 <li>Netflix's Ted Sarandos to testify at antitrust hearing over Warner deal | <a href="https://variety.com/2026/tv/news/netflix-ted-sarandos-testify-senate-antitrust-hearing-warner-bros-deal-1236638165/">Variety</a>
</li>
</ul>
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Credits:
Decoder is a production of The Verge and part of the Vox Media Podcast Network.
Decoder is produced by Kate Cox and Nick Statt and edited by Ursa Wright. Our editorial director is Kevin McShane. 
The Decoder music is by Breakmaster Cylinder. Learn more about your ad choices. Visit <a href="https://podcastchoices.com/adchoices">podcastchoices.com/adchoices</a>

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