Julie Chang

Discovery has recommended that shareholders reject Paramount's hostile tender offer for the company.

Warner says Netflix's $72 billion deal is still the better one.

Paramount today repeated that its own offer is better than Netflix's, and the company didn't immediately make any changes to its $78 billion cash offer.

Wall Street Journal entertainment reporter Joe Flint says Paramount still has a few options in its pursuit of Warner.

And elsewhere in entertainment, after decades airing on Disney's ABC network, the Oscars are moving to YouTube.

The Academy of Motion Picture Arts and Sciences struck a deal with the video website for the Hollywood Awards show's new home.

The Oscars will start running on YouTube in 2029, and the deal extends through 2033.

The Oscars will be available live and for free to more than 2 billion viewers around the world on YouTube,

and to subscribers of YouTube TV, a paid service in the U.S.

ABC will still host the next three Oscars and says it looks forward to those.

And that's What's News for this Wednesday afternoon.

Today's show was produced by Anthony Bansi with supervising producer Talia Arbel.

I'm Julie Chang for The Wall Street Journal.

We'll be back with a new show tomorrow morning.

Thanks for listening.