Two of Hollywood’s oldest studios may be consolidating into one. In a shocking twist after a monthslong bidding war, Paramount has emerged as the apparent victor in the fight to acquire Warner Bros. Netflix, who backed away from the deal Thursday, had hoped to win the movie studio and its vast film library. Paramount wants it all: Movies, cable networks and news. Almost 10 years ago, Hollywood's big six became the big five when Disney bought most of 20th Century Fox. Now the big five looks like it's destined to become the big four, including Universal and Sony, and the business of Hollywood moviemaking is one again in a time of profound transition. Here’s what we know, what we don’t and some burning questions. Why did Netflix bow out of the fight? Simply put, it was no longer “financially attractive,” the company said. In December, Netflix had reached a deal to acquire some of Warner Bros. Discovery’s assets: Their library, movie studio and HBO. Almost immediately Paramount, who months earlier had expressed interest in purchasing Warner Bros., initiated a hostile takeover bid f