The worst decision for moviegoers, yet, if this happens. Netflix will destroy everything, for just low-quality 4K digital (fake Dovi and fake Atmos) streaming. 4K digital vs 4K, and future 8K, UHD Blu ray is not the same... not even close.
Warner Brothers. Discovery has received bids from Paramount Skydance and Comcast as well, but the bid coming from Netflix seems to be favored since it is backed by the Moelis & Co. investment bank that handled the Skydance and Paramount merger. Netflix explicitly stated that it is interested only in the IP library plus production assets and has no plans to acquire legacy media networks like CNN and TNT.
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