Ed Ludlow

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This is Bloomberg Tech coming up.

Paramount making a hostile bid for Warner Brothers Discovery just days after the company agreed to a deal with Netflix.

And IBM is buying the data streaming platform Confluent for about $9.3 billion, one of its largest takeovers yet.

Look at that share market reaction for Confluent.

Let's check in on the broader markets, though.

Anticipation, anticipation of the macro perspective that is the Federal Reserve policymaking later this week.

We're down by about a quarter of a percent, but so much is happening underneath the hood at the moment, Ed, and you're going to dig into our story of the day, the week, maybe the year.

Yep, Warner Brothers Discovery.

This is the state of play.

This morning, Paramount Skydance comes in with a hostile bid at $30 per share for the entirety of Warner Brothers Discovery.

At the end of last week, Netflix had come in with an offer of $27.75 a share, but that was largely for the streaming and studio businesses

with the plan that Warner Brothers Discovery, who entered into those talks with Netflix, would divest and spin off some of the remaining legacy cable units.

There is so much to discuss in this.

The financing in both senses.

Where is it coming from?

And what does the president of the United States have to say about it, Cara?

There are so many angles to get into.

Let's go to our key reporter on all of this, Bloomberg's entertainment reporter, Lucas Shaw.

You head the entertainment coverage for this network.