Bonus Episode for Mar. 5. Reports from entertainment companies this quarter underline what’s driving consolidation in the industry. Paramount Skydance won a bidding war against Netflix for Warner Bros. Discovery, while Comcast spun out its cable networks into a new company. Wall Street Journal media and entertainment reporter Joe Flint discusses what stood out from Comcast, Disney, Netflix, Paramount, Warner Bros. Discovery and Versant. Ben Fritz hosts this special bonus episode of What's News in Earnings, where we dig into companies’ earnings reports and analyst calls to find out what’s going on under the hood of the American economy. Sign up for the WSJ's free Markets A.M. newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

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“What did the council decide on item 42?” — answered with the speaker and the moment.