This leaves Warner Bros. Discovery investors with a decision to make. Under the Warner Bros. plan, shareholders would receive $23.25 in cash per share, Netflix shares worth roughly $4.47 (or $27.72 in all), and a stake in the Discovery Global spin-off.

Warner Bros. Discovery clapped back at Paramount Skydance's lawsuit seeking more financial details on WBD's deal with Netflix and said Paramount's continued campaign to try to convince Warner Bros. shareholders that its $30/share offer is superior is an attempt to "distract" investors.

Warner Bros. Discovery announced a deal in December to sell much of its business to Netflix for $83 billion, shocking much of the entertainment industry. Warner said Netflix’s offer, for its TV and movie studios, was a better deal than Paramount’s proposal to acquire the full company.

Paramount has filed a lawsuit against Warner Bros. Discovery after the entertainment giant rejected their bid to acquire them.

Paramount released a revised tender offer last month, with Larry Ellison agreeing to personally backstop the deal. WBD says the offer would be 'the largest LBO in history.'

Everyone’s also keep an eye on Comcast spinoff Versant, seen as a proxy for the value of WBD spinoff Discovery Global