Netflix has triumphed in the bidding war for Warner Bros. and HBO. On Friday morning, Netflix said it has reached a deal with Warner Bros. Discovery to buy the legendary TV and movie studio and assets like the HBO Max streaming service for $72 billion, plus debt.

Hollywood has a rich history of personal vendettas, political discord and uncertain loyalties shaping the industry.It just usually doesn’t involve the US president.Donald Trump’s declaration that he will involve himself in the proposed sale of Warner Bros.

It's a tough time for CNN, which looks like it will be in management limbo for some time with Paramount Skydance's hostile takeover bid of its parent company, Warner Bros.

The streaming giant appears to have emerged victorious over Paramount and Comcast, though there is a lot that needs to happen for the deal to close.