Netflix had another big quarter marred by a tax dispute, but the real question is whether it will buy Warner Bros. Discovery. The answer: probably no.

With access to Washington and deep pockets, David Ellison's Paramount Skydance is the top contender to buy Warner Bros Discovery.

Warner Bros. Discovery (WBD) is attracting multiple suitors, including Comcast, Netflix, Apple, Amazon, and Paramount Skydance, amid strategic review and potential separation plans. WBD's stock reflects investor skepticism, balancing hopes of a bidding war-fueled upside with fears of a deal collapse and price drop.

Warner Bros. Discovery has launched a formal auction of the media giant, with bankers at JPMorgan and Allen & Co. combing through expressions of interest from multiple suitors – including one

David Ellison's Paramount Skydance wants to acquire Warner Bros. Discovery, which says it's evaluating multiple options. Here's what a combined Paramount-WBD would look like.

Earlier, Warner Bros. turned down Paramout Skydance's bid as the offer of around $20 per share was considered too low

CEOs Ted Sarandos and Greg Peters talk media M&A as Warner Bros. Discovery put itself on in play. They look at everything, but don't need it.

Stocks traded mostly lower Tuesday with investors focused on the nearly one-fifth of the companies in the S&P 500 that are reporting quarterly earnings this week.These stocks were making moves Tuesday:Warner Bros.