Netflix is the frontrunner to become Warner Bros.' new owner, but the war for control of the legacy studio isn't over just yet. Paramount Skydance has made its own outsize offer for the company that would give CEO David Ellison even more control over the news and entertainment landscape. And while Warner Bros. Discovery has repeatedly turned down Paramount Skydance's previous offers, Netflix's bid could also fall apart as it's subjected to regulatory scrutiny by the Federal Trade Commission and Department of Justice.
As much as WBD head David Zaslav and Netflix co-CEO Ted Sarandos and Greg Peters might want this whole process to be a done d …