- Warner Bros. Discovery rejected Paramount Skydance's latest acquisition offer.
- Paramount is competing with Netflix to buy Warner Bros. Discovery.
- Warner Bros. Discovery believes a potential deal with Netflix is more valuable and avoids excessive debt.

A: Hey Hana-chan! Did you hear anything about Warner Bros. and Paramount? It's kinda crazy!

B: Really? No! What’s going on? Tell me!

A: So, Paramount really wants to buy Warner Bros., right? Like, *really* wants to.

B: Oh wow! I thought they were just competitors.

A: Yeah, they made a big offer, but Warner Bros. said no. They think the offer isn't good enough.

B: Seriously? Even after they changed it? I heard they had a revised offer!

A: Yep! Paramount changed their offer in December. They even got Larry Ellison, Oracle’s boss, to personally guarantee a huge chunk of money – 40 billion dollars!

B: Forty billion?! That's insane! So why didn’t it work?

A: Warner Bros. says it still doesn't give them enough value. Plus, they're worried about how much debt Paramount would have to take on.

B: Debt? That doesn't sound good. So, who *else* wants Warner Bros. then?

A: Netflix! Warner Bros. thinks a deal with Netflix would be better.

B: Wow! This Hollywood stuff is always so dramatic! It's like a movie itself!