There's a good chance that his reign in entertainment is about to come to a close when Warner Bros. Discovery sells. The only question is his legacy.

Whether Netflix or Paramount buys Warner Bros., entertainment oligopolies are back -- bigger and more anticompetitive than ever, a media expert says.

The future of Hollywood depends in part on a battle between two Davids: Zaslav, who has agreed to sell Warner Bros. and HBO to Netflix; and Ellison, who has opposed the sale and launched a hostile takeover bid.

Move over Mark Twain, this time its HBO Max whose death may have been greatly exaggerated – according to Warner Bros. Discovery chief David Zaslav.

A major transaction has long felt inevitable. The 2022 merger saddled the company with roughly $50 billion in debt, leaving its leadership little choice but to explore a breakup or sale. If the split proceeds, WBD CEO David Zaslav would continue leading the Warner Bros. side, and Discovery Global would be led by current CFO David Wiedenfels.

Paramount Skydance's David Ellison went to great lenghts try to clinch a pact for Warner Bros. Discovery with CEO David Zaslav. His six offers were rebuffed.

Warner Bros. Discovery, Inc. (NASDAQ: WBD) is one of the stocks Jim Cramer recently commented on. During the episode, Cramer noted that he has always been a “believer in CEO David Zaslav,” as he stated:

It’s been revealed that James Gunn and Peter Safran got the job of co-CEOs at DC Studios after Warner Bros. Discovery CEO David Zaslav read the director’s Superman screenplay.