Group 1 - Warner Bros Discovery is expected to reject Paramount Skydance's amended hostile bid of $108.4 billion [1]

Contrarius Investment Management, an investment management company, released its third-quarter investor letter for the “Contrarius Global Equity Fund”. A copy of the letter can be downloaded here. The fund’s investor class returned 30.9% in the September quarter compared to 7.3% for the benchmark MSCI World Index, including reinvested net income, and 5.5% for the Average Global Equity Fund. The fund’s investment philosophy is independent of benchmark considerations, so the portfolios typically deviate from ...

Key Points Netflix brought 2025 to a close with a stock split and a blockbuster deal to acquire Warner Bros. The acquisition carries pros and cons for the streaming leader, including the burden of billions of dollars in debt to fund the purchase. Netflix has hurdles to overcome before the deal can close, such as addressing concerns that the combined entity will hold too much pricing power in the entertainment industry. 10 stocks we like better than Netflix › Entertainment giant Netflix (NASDAQ: ...

Listen on the go! A daily podcast of Wall Street Breakfast will be available by 8:00 a.m. on Seeking Alpha, iTunes, Spotify.Getty Images Good morning. Here's the latest in trending:Proxy fight: Pressure is building on Lululemon's (LULU) board to make major changes to the athleisure company, with its founder now joining the campaign.Profit taking: Silver prices were slammed in their biggest one-day drop since 2021, while gold fell as well (before both rebounded). U.S. stocks also ended lower to start the Ne ...

Core Insights - The U.S. cable network industry has officially entered a decline stage characterized by falling revenues, shrinking viewership, and significant restructuring of legacy assets [2][4] Industry Trends - The high-stakes bidding war for Warner Bros. Discovery (WBD) represents a pivotal moment for the future of cable television, with Netflix and Paramount Skydance pursuing different strategies [2][3] - Paramount Skydance aims to acquire WBD entirely, while Netflix is focused on its film studio and streaming assets, potentially leading to the separation of WBD's cable assets [3] Financial Data - In 2024, gross advertising revenue for cable networks decreased by 5.9% to $20.2 billion, marking the lowest level since 2007 [6] - Affiliate fee revenue fell nearly 3% to approximately $38.7 billion, indicating a decline in what TV operators pay to carry cable networks [6] - The average cable network experienced a 7.1% decline in subscriber base, dropping to 31.4 million homes [6] Strategic Movements - Major media conglomerates are increasingly abandoning cable networks in favor of streaming services, as evidenced by Comcast's planned spinoff of its cable networks into a standalone entity named "Versant" [5] - The launch of ESPN Unlimited and FOX One streaming platforms in August 2025 further accelerates this trend [5]

Warner Bros. Discovery, Inc. (NASDAQ:WBD) is one of the stocks Jim Cramer shared his take on. Cramer noted the battle over the company’s acquisition between Netflix and Paramount Skydance. He remarked: “The most salient takeover battle right now is the contest for Warner Brothers Discovery. Here we have a public company that’s more like a private company, Paramount Skydance. I say that because its bid is personally funded in part by the fifth-wealthiest person in the world, Larry Ellison. His son runs the ...

Core Insights - The sale of Warner Bros. Discovery has become a highly competitive situation in the entertainment and streaming industry, likened to a "Game of Thrones" scenario, with Netflix and Paramount Skydance vying for control [1] Group 1: Offers and Bids - Warner Bros. Discovery has favored Netflix's $82.7 billion offer, prompting a $108 billion hostile takeover bid from Paramount for the company's media assets [2] - Paramount's bid includes a $40.4 billion personal guarantee from Larry Ellison, who is backing the offer [4] - Paramount has raised its reverse termination fee to $5.8 billion in response to Warner's criticism of its initial $30-per-share proposal [4] Group 2: Timeline of Events - On December 5, Netflix announced a deal to acquire Warner Bros. [4] - On December 8, Paramount launched its $108 billion hostile bid, claiming Warner Bros. never responded to its previous offers [4] - On December 15, Netflix defended its deal as a "win" for its staff amid the competitive bidding [4] - On December 17, Warner Bros. formally rejected Paramount's bid, stating that the Netflix offer was superior [4] - The timeline includes various offers from Netflix, Comcast, and Paramount, with Comcast proposing a merger of its NBCUniversal media company with Warner Bros. [4]

但华纳兄弟内部人士则表示，在与这家流媒体巨头达成任何协议之前，扎斯拉夫已多次与埃利森家族会 面，与他们相处的时间远超与奈飞任何人的接触。 派拉蒙联合体迄今已至少六次向华纳兄弟探索发出全盘收购要约，并将报价从每股 30 美元上调，同时 引入甲骨文创始人拉里·埃利森逾 400 亿美元的个人股权融资担保及更高的分手费等条款。华纳兄弟探 索尚未公开回应这份修订后的报价及埃利森的融资担保。 华纳兄弟探索及其股东虽承认上述修订"必要"，但仍预期由大卫·埃利森领衔的财团会给出更高价格。 消息人士表示，外界普遍预计报价将被抬升至每股约 33 或 34 美元。 财经频道更多独家策划、专家专栏，免费查阅>> 智通财经获悉，当地时间周四，据知情人士透露，在竞购华纳兄弟探索公司(WBD.US)过程中，派拉蒙 (PSKY.US)团队及其合作伙伴红鸟资本正考虑采取"一级战备"级别的极端方案。 据悉，埃利森家族目前是派拉蒙-天空舞的实际控制方和控股股东，持有控制性股权的 77.5%，红鸟资 本持有剩余约 22.5% 的权益。当前，埃利森家族与红鸟资本正在酝酿退出对华纳兄弟探索的竞标(包括 此前的敌意收购路线)，转而将这家 HBO 母公司告 ...

据悉，埃利森家族目前是派拉蒙-天空舞的实际控制方和控股股东，持有控制性股权的 77.5%，红鸟资 本持有剩余约 22.5% 的权益。当前，埃利森家族与红鸟资本正在酝酿退出对华纳兄弟探索的竞标(包括 此前的敌意收购路线)，转而将这家 HBO 母公司告上法庭，指控其整个招标流程存在瑕疵，认为华纳兄 弟探索偏袒了奈飞(NFLX.US)的"劣质报价"。 "最后的选择就是'一级战备'，可能意味着提起诉讼，指控华纳兄弟探索公司在竞标过程中偏向奈飞的 更低报价，"报道援引直接知情人士的话写道。 该报道称，派拉蒙方面内部人士声称，董事和管理层之所以始终青睐奈飞的现金加股票方案，是因为华 纳兄弟探索首席执行官大卫·扎斯拉夫与奈飞首席执行官泰德·萨兰多斯关系密切。 当地时间周四，据知情人士透露，在竞购华纳兄弟探索公司(WBD.US)过程中，派拉蒙(PSKY.US)团队 及其合作伙伴红鸟资本正考虑采取"一级战备"级别的极端方案。 本文源自：智通财经网 但华纳兄弟内部人士则表示，在与这家流媒体巨头达成任何协议之前，扎斯拉夫已多次与埃利森家族会 面，与他们相处的时间远超与奈飞任何人的接触。 派拉蒙联合体迄今已至少六次向华纳兄弟探索发出 ...

据悉，埃利森家族目前是派拉蒙-天空舞的实际控制方和控股股东，持有控制性股权的77.5%，红鸟资本 持有剩余约22.5%的权益。当前，埃利森家族与红鸟资本正在酝酿退出对华纳兄弟探索的竞标(包括此前 的敌意收购路线)，转而将这家HBO母公司告上法庭，指控其整个招标流程存在瑕疵，认为华纳兄弟探 索偏袒了奈飞(NFLX.US)的"劣质报价"。 当地时间周四，据知情人士透露，在竞购华纳兄弟探索公司(WBD.US)过程中，派拉蒙(PSKY.US)团队 及其合作伙伴红鸟资本正考虑采取"一级战备"级别的极端方案。 华纳兄弟探索及其股东虽承认上述修订"必要"，但仍预期由大卫.埃利森领衔的财团会给出更高价格。 消息人士表示，外界普遍预计报价将被抬升至每股约33或34美元。 "最后的选择就是'一级战备'，可能意味着提起诉讼，指控华纳兄弟探索公司在竞标过程中偏向奈飞的 更低报价，"报道援引直接知情人士的话写道。 但华纳兄弟内部人士则表示，在与这家流媒体巨头达成任何协议之前，扎斯拉夫已多次与埃利森家族会 面，与他们相处的时间远超与奈飞任何人的接触。 派拉蒙联合体迄今已至少六次向华纳兄弟探索发出全盘收购要约，并将报价从每股30美元上调， ...