A consortium of top industry players have sent an open letter full of alarm to Congress, describing a potential economic and institutional meltdown in Hollywood if Netflix succeeds in its effort to acquire Warner Bros.

Paramount sent a letter to Warner Bros. Discovery CEO David Zaslav questioning the “fairness and adequacy” of the media giant’s sales process – nodding to reports the media giant is leaning toward a bid from Netflix.

Market Catalysts host Julie Hyman tracks several of the day's top trending stock tickers, including Netflix (NFLX), Comcast (CMCSA), and Paramount Skydance's (PSKY) latest respective bids on Warner Bros.

Lawyers for Paramount Skydance sent a letter to Warner Bros. Discovery CEO David Zaslav, expressing “grave concerns” about the alleged unfairness of WBD sales process. The attorneys suggested the Warner Bros.

Paramount fumes that Warner Bros. Discovery sale process is ‘unfair’ as Netflix jumps into the lead - While Paramount chief David Ellison thought he had a ‘Trump card’ in his bid to purchase Warner Bros.

Paramount is calling foul in the Warner Bros. Discovery sale process, accusing the company of running an unfair process that it thinks might favors Netflix. It has become increasingly clear, through media reporting and otherwise,

Warner Bros. Discovery stock gained nearly 2% in premarket trading after Netflix submitted a cash-heavy second-round bid, intensifying competition from Comcast and Paramount Skydance.