Paramount Skydance argues that its own offering is financially more attractive and involves significantly fewer legal and regulatory risks than Netflix's model. A possible change of course by Warner Bros. Discovery would mean a comprehensive reorganization of the Holywood industry, as film studios as well as streaming services, TV channels and large content libraries could be shaken up and redistributed.

When the deal with Netflix was struck, there were no details about the future of the broadcast rights to the Mountain Bike World Cup, and the situation is by no means becoming any clearer. The outcome remains open: Competition regulators, political factors and international supervisory authorities could strongly influence the deal in both directions.

Paramount Skydance's takeover bid for Warner Bros. Discovery has not only economic but also political significance. Just a few months ago, Paramount became the property of the family of Larry Ellison, a software billionaire known as a Trump supporter. And: Warner Bros. Discovery also owns the television channel CNN. The news channel, which reports critically on Trump, is probably a thorn in the side of the US president.