Core Viewpoint - Paramount Skydance is considering increasing its takeover offer for Warner Bros. Discovery (WBD) from $30 to as much as $33 per share to counter Netflix's merger agreement [1][2]. Offer Details - The potential raised offer would total nearly $86 billion, which would cover the $2.8 billion breakup fee WBD would incur if it terminates the Netflix merger [2]. - The Ellisons are prepared to add at least $2 more per share as a "sweetener" to attract WBD shareholders [3]. Strategic Timing - Paramount Skydance plans to wait until December 22 for WBD's board to respond to its initial $30-a-share offer, which it argues is superior to Netflix's $30.75 cash-and-stock bid [4]. Competitive Landscape - Netflix is reportedly considering a counter-bid for WBD in response to any moves made by Paramount Skydance [5]. - David Zaslav, CEO of WBD, indicated that an offer of $35 per share could lead to a favorable response from WBD's board [8]. Legal and Regulatory Considerations - The Ellisons argue that their cash offer presents less antitrust risk compared to Netflix's proposal, which involves significant streaming overlap [11]. - Political connections are also at play, with Larry Ellison's ties to President Trump potentially influencing regulatory approval [10][12]. Spin-off Implications - Netflix's plan to spin off WBD's cable assets could result in a new company managed by current WBD executives, which may not provide shareholders with the expected value [15].

Apple on Thursday persuaded a U.S. appeals court to reverse parts of a court order requiring the iPhone maker to make some changes to its lucrative App Store to promote greater competition, while losi... ...

Alphabet's Google is expected to be fined by EU antitrust regulators next year for not doing enough to comply with EU rules against favouring its own services and products in search results, people fa... ...

Antitrust Allegations - Texas Attorney General Ken Paxton filed an antitrust lawsuit against Epic Systems [1] - The lawsuit accuses Epic Systems of using its control over patient medical records to maintain market dominance [1] Industry Impact - The lawsuit highlights concerns about potential anti-competitive practices in the healthcare software industry [1]

Core Viewpoint - The European Union is poised to fine Google in Q1 2026 if the company fails to make further concessions to comply with the Digital Markets Act [1] Group 1: Investigation and Compliance - The European Commission has been investigating the Google Play app store since March, focusing on technical restrictions that prevent app developers from directing users to other channels and high service fees for customer acquisition [2] - Google made changes to its app store in August to address these issues, but the European Commission believes these changes are insufficient [3] - Google stated that it is working closely with the European Commission but expressed concerns that further changes could expose Android and Play users to risks such as malware and data theft [3] Group 2: Changes Implemented - The changes made by Google included updates to the external offers program in the EU, allowing links to download developers' own external apps and enabling developers to select ongoing service tiers [4] - Google emphasized that these updates aim to balance flexibility for developers with trust and safety needs across the ecosystem [4] Group 3: Ongoing Investigations - The European Commission has announced another antitrust investigation into Google, examining whether the company has imposed unfair conditions on content creators and favored its own AI model over competitors [4] - Google is also addressing competition issues identified in its advertising technology operations, having submitted a proposal to the Commission in November for assessment [5]

Core Viewpoint - The ongoing auction for Warner Brothers Discovery has generated significant interest, with competing bids from Netflix and Paramount, leading to a substantial increase in the asset's value from $12 to $30 per share, representing a 300% premium over previous trading levels [2][6]. Group 1: Auction Dynamics - David Zaslav and the Warner Brothers team are credited for effectively creating an auction environment for the asset valued at $12, which has now reached $30 per share due to competitive bids [2][3]. - Both Paramount and Netflix have indicated their willingness to increase their bids, reflecting the high stakes involved in acquiring Warner Brothers [2]. Group 2: Competitive Landscape - The Hollywood community is more concerned about a potential Netflix acquisition of Warner Brothers, viewing it as anti-competitive, especially given Netflix's stance against traditional theatrical release windows [4][10]. - Paramount's bid is perceived as more favorable due to its regulatory viability compared to Netflix, which faces skepticism from Hollywood talent regarding its competitive practices [3][4]. Group 3: Market Share and Subscriber Base - In the streaming market, Netflix boasts over 300 million global subscribers, while HBO Max has 150 million, leading to a combined market share of approximately 450 million subscribers, or 40% of the streaming market [8][9]. - In contrast, Paramount (Sky) has 75 million subscribers, which, when combined with HBO Max, results in a smaller total of 225 million subscribers, indicating a less dominant market position compared to a Netflix-Warner Brothers merger [9]. Group 4: Content Creation and Pricing Implications - The merger of Netflix and Warner Brothers would likely dampen competition for talent, potentially leading to higher prices for consumers, as both entities are major content creators with different distribution strategies [10][12]. - The argument that a merger would simplify consumer choices is countered by concerns that it would ultimately lead to increased prices, which contradicts consumer welfare principles [12][13].

Core Viewpoint - President Trump's involvement in the government's review of a deal creates a challenging situation for the antitrust chief [1] Group 1 - The decision by President Trump is considered unusual and raises questions about the independence of the antitrust review process [1] - The antitrust chief is placed in an awkward position due to the President's direct involvement [1]

Core Viewpoint - Italy's antitrust regulator has initiated investigations into The Swatch Group and Citizen Watch for potentially restricting competition on retail prices of watches sold in Italy [1][2]. Group 1: Investigations Overview - The Italian Competition Authority is examining whether Citizen Watch Italy and The Swatch Group (Italia) have engaged in anti-competitive agreements, specifically concerning retail price coordination among authorized dealers [2]. - The investigations are based on suspected violations of Article 101 of the Treaty on the Functioning of the European Union (TFEU) [2]. Group 2: Allegations Against Citizen Watch - Citizen Watch is accused of directing its selective distribution network to maintain specific retail prices and monitoring pricing behavior among its distributors [3]. - The company allegedly implemented "retaliatory commercial measures" against distributors who offered discounts or deviated from the set prices [3]. Group 3: Allegations Against The Swatch Group - Similar allegations have been made against The Swatch Group, which is suspected of imposing fixed retail prices within its selective distribution network and monitoring compliance [4]. - The Swatch Group may also retaliate against distributors that do not adhere to these pricing requirements [4]. Group 4: Legal Implications - The pricing practices of both Citizen Watch and The Swatch Group could be classified as resale price maintenance, which is a serious violation under Article 4(a) of Commission Regulation [5]. - These practices may infringe upon Article 101 of the TFEU, leading to potential legal consequences [5]. Group 5: Investigative Actions - In December 2025, the Italian Competition Authority, with support from the Special Antitrust Unit of the Italian Financial Police, conducted inspections at the offices of both Citizen Watch Italy and The Swatch Group (Italia) as part of the ongoing investigations [6].

Core Viewpoint - A significant takeover in the entertainment industry is unfolding, with Netflix and Paramount competing for Warner Bros Discovery (WBD), which has led to a bidding war that could reshape the media landscape [1][2]. Group 1: Bids and Offers - Netflix has proposed a $72 billion deal for WBD's film and TV studios, which includes rights to major franchises like Harry Potter and Game of Thrones [6]. - Paramount has countered with a $108.4 billion bid, which is characterized as a hostile offer directly to WBD's shareholders, proposing $30 per share compared to Netflix's $27.75 [9][10]. - The bids come amid WBD's plans to split into two companies, with the first division focusing on film and TV, while the second will handle legacy TV channels [4][5]. Group 2: Strategic Context - WBD's decision to explore a sale follows its struggles with an estimated $35 billion in debt and the challenges posed by the rise of streaming services [5]. - The split into two companies is intended to provide sharper focus and strategic flexibility to compete in the evolving media landscape [5]. Group 3: Political and Regulatory Concerns - The U.S. government, particularly the Department of Justice's Antitrust Division, is expected to scrutinize the deal due to concerns over potential monopolization in the streaming market [12][13]. - Politicians from both parties have expressed worries that a merger could lead to higher subscription prices and fewer choices for consumers [14][15]. Group 4: Next Steps - WBD must inform shareholders by December 22 whether Paramount's offer is superior, allowing Netflix the chance to match or exceed it [24]. - A termination fee of $2.8 billion would be payable to Netflix if WBD opts to pursue Paramount's offer [24].

Core Viewpoint - French media conglomerate Vivendi is making efforts to avoid a potential EU antitrust fine related to its acquisition of publisher Lagardere, which was completed before receiving necessary approvals [1] Group 1 - Vivendi's acquisition of Lagardere has raised concerns regarding compliance with EU antitrust regulations [1] - The company is attempting to negotiate with EU authorities to mitigate the risk of a fine [1] - The situation highlights the ongoing scrutiny of mergers and acquisitions within the media industry by regulatory bodies [1]