– by Jaspreet Singh
Paramount Skydance PSKY has a $108.4 billion hostile takeover bid for Warner Bros Discovery 
WBD submitted, challenging a competing offer from Netflix and calling into question the future of the traditional Hollywood media company.
Since 2000, the parent company of the film studio Warner Bros. has undergone three major restructurings. Now the company is facing its fourth restructuring.
Here are four graphics that show why the Warner Bros Discovery deal is important:
TO COMPETE BETTER WITH DISNEY
If Paramount manages to acquire Warner Bros Discovery, the combined company would become market leader Disney 
DIS overtaking in box office market share in the US and Canada.
Although Disney+ remains a major competitor in the streaming space with a 15 percent share of monthly active app users worldwide, it lags slightly behind Netflix and HBO Max in terms of individual user loyalty, according to market research firm Sensor Tower.
The potential acquisition will also bolster Paramount’s content offerings with HBO Max’s critically acclaimed series, from “Game of Thrones” and “Succession” to prestige classics like “The Wire” and “The Sopranos.”
YOUTUBE CONQUERS MARKET SHARE
Alphabet’s YouTube 
GOOG dominates other streaming platforms and accounts for the largest share of total TV time. The company benefits from a combination of user-generated content, advertising revenue and live services.
The video streaming service announced in March that it had more than 125 million paid subscribers, although those numbers also included users who signed up for time-limited free trials.
According to Sensor Tower, YouTube has approximately 2.9 billion monthly active mobile app users worldwide in the current quarter, surpassing the MAUs of major streaming services such as Netflix, Disney+, HBO Max, Paramount+ and Peacock combined.
In October, YouTube led the way with 12.9 percent of U.S. viewers, followed by Netflix with an 8 percent share, according to Nielsen data.
DECISIVE MOMENT FOR HOLLYWOOD
Shares of Warner Bros. Discovery closed up more than 4 percent on Monday as the company’s sale would be one of the most consequential moments in reshaping the media industry.
With a market value of over $60 billion, the company’s shares have more than doubled since reports of Paramount’s interest in the company surfaced in early September.
“Paramount and Netflix are both among the world’s largest content providers. If either of them buys WBD, there will be significant concentration in content spending. Paramount has more direct overlap due to theatrical releases, but the level of content spending by each bidder could raise antitrust concerns,” said eMarketer analyst Ross Benes.
DEALING WITH DEBT
Warner Bros. Discovery is around $35 billion in debt, meaning any acquisition will come with a significant debt load. The company had previously rejected offers from Paramount before the David Ellison-led company launched a hostile takeover bid.
In 2022, the WarnerMedia-Discovery merger resulted in a significant debt burden that has stifled the company’s long-term strategic initiatives.
As part of the potential acquisition, Paramount is expected to take on about $30 billion of Warner Bros. Discovery’s debt, while Netflix would take on about $10 billion of debt.
