Paramount Global is a huge name in the media industry. The company is reportedly planning to make a bid for one of its biggest competitors, Warner Bros. Discovery.
A bid is a formal offer to buy something, in this case, another large corporation. Warner Bros. Discovery owns many valuable assets, including the Warner Bros. movie studio and the news network CNN.
If Paramount's offer is accepted, it would create a media giant. This deal would bring famous brands like CBS News, CNN, and two major film studios under the same corporate umbrella.
Bringing so many companies under one 'umbrella' means they are all controlled by one parent company. This potential merger would dramatically change the media world, as it would reduce competition and combine some of the most powerful names in entertainment and news.