Andrew Peach

The bidding war over one of Hollywood's biggest studios has become a bit more complicated.

Warner Brothers accepted an offer of more than $80 billion for its film and streaming businesses by Netflix.

But before that deal could be approved by regulators, another Hollywood institution, Paramount, countered with its own offer to buy Warner's outright for over $100 billion.

Paramount is owned by the media mogul David Ellison, whose father just happens to be Larry Ellison, one of the richest men in the world.

and Larry Ellison has just announced that he will personally guarantee $40 billion of Paramount's bid.

So what does that all mean?

We asked the investment manager, Judith McKenzie.

Now, whatever the outcome, the sale of Warner Brothers and its properties like HBO will likely mean a single company, Netflix or Paramount, will own an even bigger chunk of the world's media production and streaming businesses.

Paul Fleming, head of the UK Entertainment Workers Union Equity, says that could have a big impact on people who make film and TV and those of us who watch it.

There is an anxiety about a sort of closing market for employment opportunities, what that might mean in terms of royalties and ongoing payments in particular, and also about the volume of content that's made in this country and around the world which our members work on.

Fewer players means fewer opportunities to sell product on, and that's one of the principal mechanisms in which artists make royalties.

That's how they get their secondary payments, and that's the main source of income for workers in that sector.

And we do worry too for audiences and what it means in terms of subscription platforms, subscription payments, and whether audiences can get best value for money in a sector that becomes less competitive.

Paul Fleming.

An international review of hormone treatment for menopause symptoms has found no evidence that it either increases or decreases the risk of dementia.

The team of researchers from the UK, Ireland, Switzerland, Australia and China examined 10 studies involving more than a million women.

Professor Amy Spector from University College London spoke to Tim Franks about what they found.

There was also a competing hypothesis that HRT might increase the likelihood of dementia.

You called for more research.

What sort of research would be useful?