Like sand through the hourglass, so are the mergers of our lives. With the Warner Bros. board now in a 10-day window to respond to Paramount’s newly hostile counteroffer, Hollywood is nearly guaranteed to be mired in this soap-operatic saga for months to come. Elaine Low, Sean McNulty and Natalie Jarvey break down the latest — including the introduction of Jared Kushner and Middle East money as the majority financial backing of the new Paramount bid, how the industry and unions are looking to fight off this merger (and whether public sentiment matters), and the likely chill this is going to have on the day-to-day business of television and film until there’s resolution. Plus, Katey Rich offers the lay of the land now that Golden Globes nominations are out: who got snubbed, who got some love and how a combined HBO-Netflix would dominate awards season.

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