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We've been so focused on which of the bids for Warner Brothers Discovery will ultimately win.

Will it be Netflix, which has a deal to buy the studio and HBO Max for $83 billion?

Or will it be Paramount and the Ellison, who want to buy the whole company for more than $100 billion,

but got their bid rejected this morning? But what if the answer to who will buy Warner's is neither? Seems implausible at this

point. Companies in play. But that's what Senator Elizabeth Warren is fighting for. Warren is the

Democrat from Massachusetts and a longtime antitrust activist, not a big fan of mergers in general.

And she's been particularly vocal about the sale of Warner Brothers. This deal looks like an anti-monopoly nightmare, she said

when the Netflix deal was announced. A Netflix Warner Brothers would create one massive media

giant with control of close to half the streaming market, threatening to force Americans

and to higher subscription prices,

fewer choices over what and how they watch

while putting American workers at risk.

She's not alone, of course.

Lots of Republican lawmakers have come out against Netflix WBD,

certainly would create a streaming behemoth.

But also the Ellisons have their Trump and GOP relationships, and Warren has been equally vocal against the Paramount bid,

even calling out the Ellisons on Stephen Colbert's show on their own CBS network.

But what power does Warren actually have here?

And is it realistic to just say no to any M&A opportunity for Warner Discovery,

...