Netflix's US $82.7 billion takeover of Warner Bros. marks the largest entertainment merger in history, raising questions about cinemas, creators, and the future of Hollywood's studio system.

EXCLUSIVE: Netflix’s proposed $82 billion purchase of Warner Bros crown jewels may be all the town is talking about today. However, over at Sacker Entertainment Law, it’s more a case of getting the band back together.

The bidding process to determine who will take over Warner Bros. Discovery is expected to enter into a third round as Paramount Skydance angles to acquire one of Hollywood’s largest film studios. Paramount is vying with Comcast and Netflix in a bidding process to buy out WBD,

Paramount Skydance has sharply increased the breakup fee in its proposed offer to acquire Warner Bros Discovery, lifting the amount from $2.1 billion to $5 billion, according to a Bloomberg News report citing individuals familiar with the negotiations.

Jockeying for HBO-owner Warner Bros. Discovery has intensified as the auction appears to enter its home stretch.

Covenant Coffee, a shop in Bakersfield, Calif., that aims to educate and employ former and current foster children, received a cease-and-desist letter from the entertainment company last week, according to Director of Operations Shelby Woolley.

Antitrust officials are likening the Netflix purchase of WBD to Ticketmaster buying a popular entertainment venue like Madison Square Garden.