What does the Warner Bros. deal mean for the entertainment industry? Over the past several days, my phone has not stopped ringing. Clients, journalists, executives, and creators are worried and have reached out for perspective on one of the most significant entertainment deals in decades.

Investors have several worries about the acquisition of Warner Bros, such as the high debt that will finance it and potentially increasing subscription fees.

Paramount launched a rival bid that seeks to bypass Warner's management and appeal directly to its shareholders with more money.