Warner Bros. has a history of disastrous mergers and acquisitions. Can they avoid another bad sequel as Netflix and Paramount battle to buy it?

There was a huge uproar recently when Netflix and Warner Bros. decided to move ahead with Netflix’s bid to acquire the company. Other companies, such as Paramount, challenged the bid, noting they thought that Netflix’s offer wasn’t a good one.

Paramount fired back that the Ellison family did provide the needed guarantees and pointed to Larry Ellison's long business record. Paramount said it would continue with its hostile takeover of Warner.

Assuming Netflix finalizes its acquisition of Warner Bros., the company may already have a firm plan in place for releasing WB's movies in theaters.

Netflix announced plans Friday to acquire the streaming and studios side of Warner Bros. Discovery, including HBO, HBO Max and DC Studios.

The competition between Netflix and Paramount Skydance to acquire the studio is haunted by the ghosts of mergers past.