NEW YORK (AP) — Warner Bros. Discovery’s friendly agreement to sell itself to Netflix just got upended by a hostile actor -- Paramount, which made Warner shareholders a higher offer and touched off what is likely to be a lengthy fight in the latest episode of media industry consolidation.

CNN staffers tell Fox News Digital the mood in the newsroom is "grim" over the prospects of Paramount owner David Ellison buying its parent company Warner Bros. Discovery.

The mounting battle to purchase one of Hollywood’s biggest prizes — Warner Bros. Discovery — has captured President Donald Trump’s attention as he sees his own interests entwined in the transaction and appears poised to try to influence its outcome.

The offer to shareholders comes days after Warner Bros. agreed to sell its streaming and studio business to Netflix.

The entertainment company has mounted a charm offensive in recent days, as it tries to win regulatory approval for its hostile bid.

When plaintiffs' lawyers threatened to bring thousands of cases against Discovery Communications over alleged consumer data privacy violations, all parties agreed the disputes belonged in arbitration.

Warner Bros. Discovery, responding to Paramount Skydance’s unsolicited takeover offer to acquire all of WBD’s outstanding stock for $30/share, said it will review the proposal and issue its decision within 10 business days.