A huge takeover that would rock the entertainment industry looks imminent, with Netflix and Paramount fighting over Warner Bros Discovery (WBD).

Streaming giant Netflix announced it had agreed a $72bn (£54bn) deal for WBD’s film and TV studios on 5 December, only for Paramount to sweep in with a $108.4bn (£81bn) bid several days later.

The takeover saga isn’t far removed from a Hollywood plot; with multi-billionaires negotiating in boardrooms, politicians on all sides expressing their fears for the public and the US president looming large, expected to play a significant role.

“Whichever way this deal goes, it will certainly be one of the biggest media deals in history. It will shake up the established TV and film norms and will have global implications,” Sky News’ US correspondent Martha Kelner said on the Trump 100 podcast.

So what do we know about the bids, why are they controversial – and how is Donald Trump involved?

Why is Warner Bros up for sale?

WBD’s board first announced it was open to selling or partly selling the company in October after a summer of hushed speculation.

Back in June, WBD announced its plan to split into two companies: one for its TV, film studios, and HBO Max streaming services, and one for the Discovery element of the business, primarily comprising legacy TV channels that air cartoons, news, and sports.

It came amid the cable industry’s continued struggles at the hands of streaming services, and CEO David Zaslav suggested splitting into two companies would give WBD’s brands the “sharper focus and strategic flexibility they need to compete most effectively in today’s evolving media landscape”.

The company’s long-term strategic initiatives have also been stifled by its estimated $35bn of debt. This wasn’t helped by the WarnerMedia and Discovery merger in 2022, which led to it becoming Warner Bros Discovery.

What we know about the bids

The $72bn bid from Netflix is for the first division of the business, which would give it the rights to worldwide hits like the Harry Potter and Game of Thrones franchises – and Warner Bros’ extensive back catalogue of movies.

If the deal were to happen, it would not be finalised until the split is complete, and Discovery Global, including channels like CNN, will not form part of the merger.

Paramount’s $108.4bn offer is what’s known as a hostile bid. This means it went directly to shareholders with a cash offer for the entirety of the company, asking them to reject the deal with Netflix.

This deal would involve rival US news channels CBS and CNN being brought under the same parent company.

Netflix’s cash and stock deal is valued at $27.75 (£20.80) per Warner share, giving it a total enterprise value of $82.7bn (£62bn), including debt.

But Paramount says its deal will pay $30 (£22.50) cash per share, representing $18bn (£13.5bn) more in cash than its rivals are offering.

Paramount claims to have tried several times to bid for WBD through its board, but said it launched the hostile bid after hearing of Netflix’s offer because the board had “never engaged meaningfully”.

Why are politicians and experts concerned?

The US government will have a big say on who ultimately buys WBD, as Paramount and Netflix will likely face the Department of Justice’s (DOJ) Antitrust Division, a federal agency which scrutinises business deals to ensure fair competition.

Republicans and Democrats have voiced concerns over the potential monopolisation of streaming and the impact it would have on cinemas if Netflix – already the world’s biggest streaming service by market share – were to take over WBD.

Democratic senator Elizabeth Warren said the deal “would create one massive media giant with control of close to half of the streaming market – threatening to force Americans into higher subscription prices and fewer choices over what and how they watch, while putting American workers at risk”.

Similarly, Representative Pramila Jayapal, who co-chairs the House Monopoly Busters Caucus, called the deal a “nightmare,” adding: “It would mean more price hikes, ads, and cookie-cutter content, less creative control for artists, and lower pay for workers.”

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Netflix’s business model of prioritising streaming over cinemas has caused consternation in Hollywood.

The screen actors union SAG-AFTRA said the merger “raises many serious questions” for actors, while the Directors Guild of America said it also had “concerns”.

Experts suggest there’s less of a concern with the Paramount deal when it comes to a streaming monopoly, because its Paramount+ service is smaller and has less of an international footprint than Netflix.

How is Trump relevant?

After Netflix announced its bid, the president said of its path to regulatory clearance: “I’ll be involved in that decision.”

And while Mr Trump himself will not be directly involved, he appointed those in the DOJ Antitrust Division, and they have the authority to block or challenge takeovers.

However, his potential influence isn’t sitting well with some experts due to his ties with key players on the Paramount side.

Paramount is run by David Ellison, the son of the Oracle tech billionaire (and world’s second-richest man) Larry Ellison, who is a close ally of Mr Trump.

Additionally, Affinity Partners, an investment firm run by Mr Trump’s son-in-law Jared Kushner, would be investing in the deal.

Also participating would be funds controlled by the governments of three unnamed Persian Gulf countries, widely reported as Saudi Arabia, Abu Dhabi and Qatar – countries the Trump family company has struck deals with this year.

Critics of the Trump’s administration has accused it of being transactional, with the president known to hold grudges over those who are critical of him, however, Mr Trump told reporters on 8 December that he has not spoken with Mr Kushner about WBD, adding that neither Netflix nor Paramount “are friends of mine”.

John Mayo, an antitrust expert at Georgetown University, suggested the scrutiny by the Antitrust Division would be serious whichever offer is approved by shareholders, and that he thinks experts there will keep partisanship out of their decisions despite the politically charged atmosphere.

What happens next?

WBD must now advise shareholders whether Paramount’s offer constitutes a superior offer by 22 December.

If the company decides that Paramount’s offer is superior, Netflix would have the opportunity to match or beat it.

WBD would have to pay Netflix a termination fee of $2.8bn (£2.10bn) if it decides to scrap the deal.

Shareholders have until 8 January 2026 to vote on Paramount’s offer.

Sophie Kinsella, the author of the Shopaholic series of novels, has died aged 55, her family have said.

The writer, whose real name was Madeleine Sophie Wickham, revealed last year she had been diagnosed with an aggressive form of brain cancer in 2022.

A statement posted to her Instagram account read: “We are heartbroken to announce the passing this morning of our beloved Sophie (aka Maddy, aka Mummy). She died peacefully, with her final days filled with her true loves: family and music and warmth and Christmas and joy.

“We can’t imagine what life will be like without her radiance and love of life.

“Despite her illness, which she bore with unimaginable courage, Sophie counted herself truly blessed – to have such wonderful family and friends, and to have had the extraordinary success of her writing career. She took nothing for granted and was forever grateful for the love she received.

“She will be missed so much our hearts are breaking.”

Kinsella’s novels have sold more than 45 million copies in more than 60 countries, and have been translated into more than 40 languages.

In April 2024, she revealed she had been diagnosed with an aggressive form of brain cancer in 2022.

In a post on social media, Kinsella said she had been receiving chemotherapy and radiotherapy at London‘s University College Hospital, and had undergone “successful” surgery.

She said she “wanted for a long time to share with you a health update and I’ve been waiting for the strength to do so”.

“At the end of 2022 I was diagnosed with glioblastoma, a form of aggressive brain cancer,” she said.

“I did not share this before because I wanted to make sure that my children were able to hear and process the news in privacy and adapt to our ‘new normal’.

“At the moment all is stable and I am feeling generally very well, though I get very tired and my memory is even worse than it was before!

“I am so grateful to my family and close friends who have been an incredible support to me, and to the wonderful doctors and nurses who have treated me.”

Kinsella’s most recent book is What Does it Feel Like?, published in October 2024 and which “is fiction, but it is my most autobiographical work to date”, the author wrote on her website.

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Other books by the London-born author include The Burnout, released in October 2023, Can You Keep A Secret? and The Undomestic Goddess.

The first two novels in her hit eight-book Shopaholic series, The Secret Dreamworld Of A Shopaholic and Shopaholic Abroad, were adapted into the 2009 film Confessions Of A Shopaholic, starring Isla Fisher.

She is survived by her children, four sons and a daughter, and her husband Henry Wickham.

Bill Scott-Kerr, publisher at Transworld, the publishing home of Kinsella for the past 30 years, said: “She has been such an unshakeable pillar of our publishing at Transworld for so many years that the thought of a year without a Sophie Kinsella to publish is inconceivable.”

He added: “Maddy leaves behind a glorious and indelible legacy: a unique voice, an unquenchable spirit, a goodness of intent and a body of work that will continue to inspire us to reach higher and be better, just like so many of her characters.

“On a personal level Maddy was the embodiment of joy, an extraordinarily clever, funny, sassy, impish, kind and generous collaborator who brought light into our lives. She was as part of this company as anyone, and we will all truly miss her.”

Scottish artist Nnena Kalu has won the 2025 Turner Prize with two exhibitions, including a series of brightly coloured sculptures.

The Glaswegian, 59, took home the visual arts prize along with £25,000 at an award ceremony on Tuesday in Bradford, this year’s UK City of Culture.

As reported by The Guardian, she is the first artist with a learning disability to win the award.

Along with Hanging Sculpture 1-10, which European art exhibitors Manifesta commissioned her to create at a disused power station in Barcelona, Ms Kalu won for her presentation in Conversations, a group exhibition at Walker Art Gallery in Liverpool.

For the sculpture series, the artist created the vividly-coloured works from repeated lines and wrappings of different materials, making nest or cocoon-like forms.

The installation consisted of 10 large brightly-coloured sculptures that hung from grey concrete pillars of the industrial site.

Meanwhile, for Conversations, Kalu presented work in pen, graphite and chalk pen on two pieces of paper.

The jury, which was chaired by Alex Farquharson, the director of Tate Britain, commended Kalu’s “bold and compelling work” and praised the “lively translation of expressive gesture” in the abstract sculpture and drawing.

The panel also acknowledged her scale, composition and colour, highlighting “the powerful presence” her works have.

Kalu is also a resident artist at ActionSpace’s studio, which supports learning disabled artists across London at Studio Voltaire, and beat out fellow shortlisted artists Rene Matic, Mohammed Sami and Zadie Xa.

The works by the four artists are currently available to see at a free exhibition at Bradford’s Cartwright Hall Art Gallery until 22 February.

Named after British painter JMW Turner, this year’s prize marked the 250th anniversary of his birth.

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Previous winners include artist Damien Hirst in 1995 and filmmaker Sir Steve McQueen in 1999, while last year’s winner, Jasleen Kaur, picked up the prize for Alter Altar – which covered a red sports car with a giant ornamental doily mat.