According to @StockMKTNewz, citing The Wall Street Journal, Paramount (PSKY), Comcast (CMCSA), and Netflix (NFLX) are preparing nonbinding first-round bids for Warner Bros. Discovery (WBD) with an initial submission deadline of Nov. 20, and WBD aims to complete the auction process by year-end (source: The Wall Street Journal via @StockMKTNewz). For traders, these dated milestones create defined event-risk windows for WBD and peer streaming equities, while shifts in U.S. equity risk sentiment around large-cap media M&A can spill over to crypto given the increased stock–BTC correlation documented since 2020 (source: International Monetary Fund).