Just how much longer can the Netflix vs. Paramount merger madness go on? (Cue the eye rolls.) Paramount made a fresh $31-per-share offer to acquire Warner Bros. Discovery, and WBD’s response — which can be boiled down to “We’re getting there, maybe” — is about as close to coquettish as a corporation can get. Meanwhile, Netflix is not-so-patiently waiting in the wings, as co-CEO Ted Sarandos wraps a weeklong press tour to convince Wall Street and Hollywood that his company’s offer for WBD (which, as he’ll remind you, was already accepted in December) is superior. So what happens now? Elaine Low, Natalie Jarvey and Sean McNulty answer your burning questions about the whole saga and read between the lines of Sarandos’ press offensive.

Learn more about your ad choices. Visit megaphone.fm/adchoices