We haven't seen the end of the bidding war for Warner Bros., says media mogul Tom Rogers

Industry Overview - The potential merger between Paramount and Warner is significant for the industry, with labor factions expressing concerns about Netflix's role in the deal [2][3] - If Paramount and Warner merge, it could lead to a reduction in the number of major studios, creating a more consolidated market [3] - The outcome of the merger will likely influence future M&A activity in the industry, as global scale is crucial for success in streaming [9][10] Company Analysis - Paramount is viewed as the weaker competitor in the current landscape, making the merger more critical for its growth and survival [7][8] - Netflix's acquisition of Warner is seen as less essential for its operations, although it would still be a strategic move [8] - The decision-making process for both companies will be influenced by data-driven strategies, but the ultimate valuation by shareholders will be the deciding factor [6][11]