Warner Bros. Discovery is preparing to tell its shareholders to reject Paramount’s latest offer as soon as Wednesday, people familiar with the matter say, and plans to recommend they support its existing deal with Netflix instead. That would leave Paramount and its chief executive, David Ellison, to decide whether to sweeten its offer.

Warner Bros. has a history of disastrous mergers and acquisitions. Can they avoid another bad sequel as Netflix and Paramount battle to buy it?

President Donald Trump expressed unhappiness with the owners of Paramount Skydance Corp. over CBS News coverage of his presidency, in the latest signal of how he may be leaning in the battle to purchase Warner Bros.

President Donald Trump, for some reason, lashed out again at Paramount Skydance chief David Ellison and his father, Larry Ellison — complaining about his treatment by CBS News’ “60 Minutes” newsmagazine.

Theater owners fear a sale of Warner Bros. to another major media player could further decrease movie production at a time when the industry has faced multiple setbacks.

The decision to inject himself is particularly extraordinary given the president’s own conflicts and interests, according to legal experts.