Warner Bros. and Netflix leaders put on a show of force Wednesday when Netflix co-CEOs paid a visit to the Warner Bros. lot in Burbank.

In rejecting Paramount ’s hostile takeover bid, Warner Bros. questions the Ellison family trust and its commitment to a $77.9 billion deal.

After winning the award for best game adaptation for HBO series The Last of Us, Druckmann took to the stage to make his speech. In the clip, now posted on Twitter, the Naughty Dog Studio Head thanked the relevant studios before adding, "Do we need to thank Netflix or Paramount, or whoever our streaming overlord is now?"

Ted Sarandos and Greg Peters, the co-CEOs of Netflix, issued a memo to staffers that conveyed their belief that the company’s deal to buy Warner Bros. and HBO Max will withstand a counterattack by David Ellison’s Paramount Skydance and will clear regulatory hurdles.

A video spreading across platforms purports to show the Netflix logo painted over the historic water tower at Warner Bros. Studios as the streaming powerhouse seeks to buy the global media giant's film and television studios and streaming services amid a bidding war with Paramount.

In the corporate battle over parent company Warner Bros. Discovery, CNN's fate remains up for grabs. President Trump wants a say in what happens next.

Disney CEO Bob Iger strategically stepped in with some opinions of his own about Netflix and Paramount's battle to acquire Warner Bros.