Whether or not Netflix’s $82.6 billion acquisition of Warner Bros. goes through, the deal encapsulates a fraught moment for Hollywood, as the entertainment business is increasingly overshadowed by tech giants.On the latest episode of the Equity podcast, Kirsten Korosec and I discussed the deal’s implications, both for Netflix and the larger Hollywood ecosystem. Kirsten noted that it’s just the latest move bringing more consolidation to the media business, and she wondered whether it’s “too big a risk” for ...

Paramount Skydance CEO David Ellison speaks during the Bloomberg Screentime conference in Los Angeles on October 9, 2025.AFP via Getty ImagesRupert Murdoch’s News Corp. has a major launch in the works: A West Coast offshoot of the New York Post, the company’s puckish tabloid that covers crime, scandal, and gossip with a blend of swagger and provocative headline puns. The early 2026 debut of The California Post will likely be the final journalistic hurrah for Murdoch, the 94-year-old press baron whose empire ...

By Harshita Mary Varghese, Aditya Soni and Dawn Chmielewski Dec 8 (Reuters) - Paramount Skydance on Monday launched a hostile bid worth $108.4 billion for Warner Bros Discovery, in a last-ditch effort to outbid Netflix and create a media powerhouse that would challenge the dominance of the streaming giant. Netflix had emerged victorious on Friday from a weeks-long bidding war with Paramount and Comcast, securing a $72 billion equity deal for Warner Bros Discovery's TV, film ​studios and streaming assets. ...

Core Viewpoint - Netflix is set to acquire Warner Brothers Discovery's studio and streaming assets in a historic $72 billion deal, which is subject to regulatory approval and could reshape the competitive landscape of the streaming industry [2][19][41]. Financial Implications - The acquisition is valued at $72 billion, translating to $27.75 per Warner Discovery share, which is a significant premium compared to its previous trading price of around $12 per share [2][15][41]. - Netflix aims to leverage Warner Brothers' extensive library of intellectual property, including iconic franchises like Harry Potter and DC superheroes, to enhance its content offerings and competitive position [3][42]. Strategic Rationale - This deal represents a shift for Netflix, which has historically focused on building its content library rather than acquiring existing assets. The acquisition will provide Netflix with a film distribution unit and the HBO Max streaming service, which could complement its existing offerings [4][5][41]. - Approximately 75% of HBO Max subscribers also subscribe to Netflix, indicating potential for cross-promotion and subscriber growth [6]. Competitive Landscape - The acquisition allows Netflix to keep valuable assets away from competitors like Paramount and Comcast, who were also in the running for the deal [42]. - Analysts had previously assigned a higher probability of success to Paramount in this bidding war, making Netflix's victory a surprise [20][41]. Regulatory Considerations - The deal faces scrutiny from regulators, particularly regarding the potential for increased market power in the streaming sector. Netflix plans to operate HBO Max and its own service separately to address regulatory concerns [10][34]. - The regulatory environment is complicated, with perceptions that Paramount may have had an edge due to its connections with the current administration [7][45]. Future Outlook - The acquisition is expected to close in 2026 after the planned separation of Warner Brothers' cable assets, indicating a lengthy regulatory process ahead [46]. - The deal may prompt further consolidation in the industry as smaller players struggle to compete with larger entities like Netflix [18][37].

This story was originally published on Marketing Dive. To receive daily news and insights, subscribe to our free daily Marketing Dive newsletter. Netflix has entered into a definitive agreement to acquire Warner Bros. in a cash-and-stock transaction valued at $72 billion, according to a press release. The deal, which includes assets like the Warner Bros. movie studio and HBO Max streaming platform, will close after parent Warner Bros. Discovery splits off its global networks division, Discovery Global, in ...

Core Insights - Netflix has entered exclusive negotiations to acquire key assets from Warner Bros. Discovery after a competitive bidding process [1] Group 1: Winning Bid and Key Assets - Netflix outbid competitors, including Paramount Skydance, with reports indicating a winning bid of either $28 or $30 per share [2] - The acquisition focuses on Warner Bros. film and TV studios, HBO Max, and valuable intellectual properties like "Harry Potter" and the DC Universe [2] Group 2: Proposal Details - The proposal includes a significant $5 billion break-up fee, similar to terms in Paramount's bid [3] - Unlike Netflix, Paramount aimed to acquire the entire company, including its linear TV channels [3] Group 3: Rivalry and Regulatory Hurdles - The bidding process was contentious, with Paramount alleging that the auction favored Netflix and was "tainted" [4] - The deal faces potential regulatory challenges, including antitrust scrutiny from the Department of Justice [5] Group 4: Market Reaction - Following news of the potential deal, Netflix shares fell by 0.71% to $103.22 [5] - Year-to-date, Netflix shares have increased by 15.81%, but underperformed compared to the Nasdaq Composite and Nasdaq 100 indices [6]

A deal to combine Paramount and Warner Bros. Discovery would create a media behemoth. And that behemoth could be partially owned by the governments of Saudi Arabia, Qatar, and Abu Dhabi.So says Variety, reporting that David and Larry Ellison, who own Paramount and are bidding to buy WBD, are using money from those countries' sovereign wealth funds to finance their proposed deal. If that story sounds familiar, there's a good reason: In November, Variety reported more or less the same thing — which prompted ...

Core Viewpoint - U.S. broadcaster Sinclair has proposed a cash-and-stock acquisition of E.W. Scripps, valuing the smaller competitor at $538 million, amid industry challenges from cord-cutting and increased competition from streaming services [1] Company Summary - Sinclair's acquisition offer includes both cash and stock components, indicating a strategic move to consolidate its position in the broadcasting industry [1] - E.W. Scripps is being valued at $538 million, reflecting the financial pressures and competitive landscape faced by traditional broadcasters [1] Industry Summary - The broadcasting industry is experiencing significant disruption due to cord-cutting trends, where consumers are moving away from traditional cable subscriptions [1] - Increased competition from streaming services is further intensifying the challenges for traditional broadcasters, prompting consolidation efforts like Sinclair's acquisition proposal [1]

Core Points - John Malone is stepping down as chairman of Liberty Media, transitioning to chairman emeritus effective January 1, 2026, after over three decades of leadership [1][2] - Malone's decision comes after a successful simplification of Liberty Media's portfolio and the strengthening of its operating businesses [2] - Liberty Media shares have increased over 34% year-to-date and more than 54% over the past 12 months, despite a slight decline in trading on the day of the announcement [2] Company Background - Malone built Tele-Communications, Inc. (TCI) in the 1970s and 1990s, selling it to AT&T for over $50 billion in 1999, and has been a key figure in the development of Liberty Media, with Formula One being its crown jewel [3] - Malone is known for his aggressive deal-making and complex share structures, acquiring high-profile media assets throughout his career [3] Leadership Transition - Robert R. "Dob" Bennett, who has been with Liberty Media since its founding in 1991 and served as vice chairman since January 2025, will assume the role of chairman [7] - Bennett expressed gratitude for Malone's mentorship and highlighted his legacy as a visionary business leader [8] Future Outlook - Malone has indicated a belief in ongoing media consolidation, suggesting that significant changes in the industry are still to come, particularly with the integration of social networking and streaming entertainment [6]

Core Viewpoint - Concerns have been raised regarding media consolidation, particularly with David Ellison's potential control over Warner Bros. Discovery, which could lead to significant media monopoly risks [1][2]. Group 1: Media Consolidation Concerns - Senator Elizabeth Warren highlighted the risks of media monopolies, noting that Ellison's acquisition of Paramount and potential control over Warner Bros. could result in one company dominating a vast majority of television content [2]. - Warren previously criticized Trump's involvement in the $8 billion merger between Paramount Global and Skydance, suggesting it could involve unethical practices [3]. Group 2: Warner Bros. Discovery's Strategic Review - Warner Bros. Discovery announced it would explore all strategic options, including potential sale offers, following a rejection of an offer from Paramount Skydance [3][4]. - CEO David Zaslav indicated that the company has received unsolicited interest from multiple parties for the entire company and specifically for Warner Bros. [4]. Group 3: Market Reactions and Industry Implications - Following the announcement, Warner Bros. shares increased by 10.97% on Tuesday and gained an additional 2.31% in after-hours trading [4]. - The planned split of Warner Bros. into two companies—one focused on global TV networks and the other on streaming and studios—could significantly alter the media landscape, with Comcast and Netflix reportedly interested in parts of Warner Bros. Discovery [5].