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Paramount wins bid to acquire Warner Brothers Discovery after Netflix bows out

Netflix on Thursday said it would not match a bid from Paramount seeking to acquire Warner Brothers Discovery, the sprawling media empire that includes legacy brands in news and entertainment like CNN and HBO. News of the streamer bowing out of its deal with Warner Bros. Discovery came just minutes after the David Zaslav-led company...

Netflix backs out of Warner Bros. Discovery bidding war

Netflix backs out of Warner Bros. Discovery bidding war

For anyone who has been following the soap opera unfolding between Netflix and Paramount Skydance over the past few months in their financial brinksmanship to acquire Warner Bros. Discovery, the saga may be nearing its end. Today, WBD said its board of directors have determined that the latest offer from Paramount Skydance amounted to the better proposal. The media outfit gave Netflix four business days to match Paramount's terms, but the streamer didn't waste any time in declining to raise its own bid. "We believe we would have been strong stewards of Warner Bros.' iconic brands, and that our deal would have strengthened the entertainment industry and preserved and created more production jobs in the US," the statement from Netflix co-CEOs Ted Sarandos and Greg Peters said. "But this transaction was always a 'nice to have' at the right price, not a 'must have' at any price." In addition to the purchase price of $31 per WBD share, Paramount's latest offer also included a provision that it would cover the $2.8 billion termination fee that WBD would owe to Netflix for dissolving the existing merger agreement between the businesses. So rather than paying $82.7 billion to acquire the Warner Bros. part of the operation, it appears Netflix may walk away with no new content but padding its coffers with an extra nearly $3 billion. After Netflix's initial offer, Paramount Skydance swooped in with a hostile takeover attempt of the entire Warner Bros. Discovery business. WBD rejected it, Paramount tried again. Several additional volleys between the involved parties occurred over the past few weeks. While WBD has not yet formally accepted Paramount's offer — which will be subject to long-winded regulatory approvals sure to spark more drama — it seems the dust will soon settle for this chapter. This article originally appeared on Engadget at https://www.engadget.com/entertainment/netflix-backs-out-of-warner-bros-discovery-bidding-war-233117188.html?src=rss

Netflix Backs Out of Warner Bros. Bidding, Paramount Set to Win

Hacker News

Netflix Backs Out of Warner Bros. Bidding, Paramount Set to Win

Article URL: https://www.hollywoodreporter.com/business/business-news/netflix-backs-out-warners-deal-paramount-win-1236516763/ Comments URL: https://news.ycombinator.com/item?id=47173583 Points: 29 # Comments: 9

Netflix walks away from its deal to buy Warner Bros. after Paramount came back with a better offer

Netflix walks away from its deal to buy Warner Bros. after Paramount came back with a better offer

Netflix has dropped its $83 billion deal to acquire the Warner Bros. studio, HBO, and its streaming service HBO Max. In an announcement on Thursday, co-CEOs Ted Sarandos and Greg Peters say the streamer is "declining to match" the new bid made by Paramount: The transaction we negotiated would have created shareholder value with a clear path to regulatory approval. However, we've always been disciplined, and at the price required to match Paramount Skydance's latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid. We believe we would have been strong stewards of Warner Bros.' i … Read the full story at The Verge.

Netflix Backs Out of Warner Bros. Deal, Paving Way for Paramount Assimilation

Gizmodo

Netflix Backs Out of Warner Bros. Deal, Paving Way for Paramount Assimilation

Netflix has declined to raise its offer for Warner Bros. after Paramount's most recent bid was deemed a 'superior proposal.'

Warner Bros. Says Paramount’s $111 Billion Deal Tops Netflix

Warner Bros. Says Paramount’s $111 Billion Deal Tops Netflix

Warner Bros. Discovery said a new $111 billion offer from Paramount Skydance is a better deal for shareholders than the one it agreed to earlier with Netflix. Netflix will now have four business days to come up with a new proposal that beats Paramount or it will lose the fight for one of the industry’s oldest film and TV studios. Paramount has offered $31 a share for all of Warner Bros. while Netflix has bid $27.75 a share for the company’s studios and HBO business. Paramount Chief Executive Officer David Ellison has been pursuing Warner Bros. for months, efforts that prompted the parent of HBO and CNN to put itself up for sale in October. After Warner Bros. signed a deal in early December with Netflix, Paramount kept up the fight. Bloomberg News Senior Editor and Entertainment Team Leader Chris Palmeri joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)

Netflix Drops Warner Bros. Bid, Leaving Paramount the Winner

about 3 hours ago

Netflix Drops Warner Bros. Bid, Leaving Paramount the Winner

Netflix Inc. dropped out of the fight to buy Warner Bros. Discovery Inc., clearing the way for rival bidder Paramount Skydance Corp. to clinch its $111 billion deal for the historic Hollywood studio.

In reversal, Warner Bros. jilts Netflix for Paramount

NPR News

about 3 hours ago

In reversal, Warner Bros. jilts Netflix for Paramount

Warner Bros. says Paramount's sweetened bid to buy the whole company is "superior" to an $83 billion deal it struck with Netflix for just its streaming services, studios, and intellectual property.

Warner Bros. Discovery: Paramount's hostile bid 'superior' to Netflix offer

The Hill

about 3 hours ago

Warner Bros. Discovery: Paramount's hostile bid 'superior' to Netflix offer

Warner Bros. Discovery, the sprawling entertainment company that owns major media brands like HBO and CNN, said Thursday it now favors a bid made by Paramount to buy the company's key assets over a previous agreement with streamer Netflix. The company's board, "following consultation with its independent financial and legal advisors," said it had found...

Warner Bros says Paramount’s bid is ‘superior’ to Netflix offer

Financial Times

about 4 hours ago

Warner Bros says Paramount’s bid is ‘superior’ to Netflix offer

Streaming company has four business days to sweeten its proposal to buy the Hollywood studio

Netflix’s F1 series Drive to Survive will stream on Apple TV, too

about 6 hours ago

Netflix’s F1 series Drive to Survive will stream on Apple TV, too

Netflix's sports docuseries obsession started a few years ago with F1: Drive to Survive, but when the eighth season premieres after midnight tonight, it will also be available on Apple TV. Now that Apple TV has a five-year deal to be the US streaming home for F1 races, subscribers in the US will be able to catch every episode of the new Drive to Survive season without having to jump over to another streaming service. Apple TV and Netflix will both stream the eighth season of F1: Drive to Survive. The hit F1 documentary series that has so far been exclusive to Netflix, but the new season will debut on both streaming services on Friday. What … Read the full story at The Verge.

Apple and Netflix are teaming up to share Formula 1 programming

about 6 hours ago

Apple and Netflix are teaming up to share Formula 1 programming

Apple and Netflix have entered into a rather surprising partnership. The dynamic streaming duo will share Formula 1 programming, according to The Hollywood Reporter. The deal allows Netflix to stream the F1 Canadian Grand Prix in May, along with Apple TV. On the flipside, Apple TV and Netflix will both air season eight of the docuseries Drive to Survive. The Netflix-created series spotlights various F1 drivers and their teams. The season premieres at midnight on both platforms. Eddy Cue, Apple’s senior VP of services, said that Netflix "has played a pivotal role in growing F1 since the launch of Drive to Survive, and we're thrilled to make F1 content more broadly available to new and existing US fans." It seems like both companies stand to gain from this deal. Apple gets related F1 programming to air alongside the live races, and an expanded reach for these races. Netflix gets F1 races in the US, continuing the platform's strategy of frequently airing live events. Apple secured the rights to stream F1 races last year in a deal believed to be valued at around $150 million per year. The company has since been trying to expand the reach of the sport, and this Netflix deal is part of that effort. Apple has inked a deal with IMAX to simulcast some races live in theaters. It's also been reported that Tubi, Comcast, DirecTV and Amazon Prime Video will all have some access to select F1 content. This aggressive approach by Apple has led F1 CEO Stefano Domenicali to say that the sport will become bigger than it ever was while airing on ESPN. "It will allow us to enter in the houses of other people in a different way, in great quality that is very important for us. So, that is what I believe the Apple relationship will bring to us in the American market," he told Racer. This article originally appeared on Engadget at https://www.engadget.com/entertainment/streaming/apple-and-netflix-are-teaming-up-to-share-formula-1-programming-192829498.html?src=rss

Everything you need to know about streaming F1 on Apple TV

about 6 hours ago

Everything you need to know about streaming F1 on Apple TV

We’ve known Apple would follow up its blockbuster film F1: The Movie with live coverage of F1 races in 2026. Now that we’re approaching the first grand prix weekend of the year, the company has provided details on what fans can expect to see inside the Apple TV app and beyond. There’s already a dedicated F1 channel in the Apple TV app, which is where you’ll stream races live when the time comes. You can also watch practice sessions, sprint races and both pre- and post-race coverage. Apple offers a number of additional F1 videos there (I’d recommend watching the one on the new rules) and you’ll be able to stream the latest season of Drive To Survive on Apple TV as well. Apple will offer the F1 TV feed as the main broadcast alongside the Sky Sports feed for all races. If you’ll recall, ESPN used to show the Sky Sports feed with Sky’s commentary team for its coverage of F1. Apple says it’ll broadcast every grand prix in 4K (Dolby Vision) with 5.1 audio (no mention of Dolby Atmos). As part of Apple’s deal with F1, Apple TV subscribers get F1 TV Premium for the 2026 season. This gives you access to things like onboard cameras, team radios and live telemetry in addition to live coverage of the entire grand prix weekend. So, you can watch races on Apple TV or F1 TV, depending on your app preferences, or use the additional features of F1 TV Premium as a second (or third, etc.) screen setup. Netflix will also broadcast the Canadian Grand Prix in May as part of the deal that brought Drive To Survive to Apple TV. F1 TV Premium F1 Full replays for all sessions will be available in the Apple TV app as well. Apple will offer a condensed race in 30 minutes replay option too, and the company says it’s working to hide spoilers in case users are watching after the race begins or concludes. Apple has cooked up some new features for F1 grands prix as it takes over broadcast rights in the US. When you click on the F1 channel in the Apple TV app, the current grand prix week’s conte

Xbox is in danger. Will Microsoft fix it or kill it?

about 11 hours ago

Xbox is in danger. Will Microsoft fix it or kill it?

Today, we’re talking about the future of Xbox. Phil Spencer, a two–time Decoder guest who’s led Xbox for more than a decade, retired last week. But in a shocking twist, his deputy and long-assumed successor, Sarah Bond, is also out too, and the Xbox division is now in the hands of Asha Sharma, one of Microsoft’s AI executives with no prior game industry experience. It’s a major leadership transition that suggests Microsoft wants to make serious changes to its gaming division, which owns franchises like Halo, Call of Duty, and Minecraft. There is no better person to talk to about all of this than Tom Warren, a senior editor here at The Verge and author of the excellent Notepad newsletter. Tom is actually on parental leave right now, but Microsoft has a longstanding habit of disrupting his well-earned time off with major news. So, Tom was gracious enough to come on the show after he published a major scoop about what exactly went down at Xbox this past week. There is a lot to say about Xbox: The story of the console and Microsoft Gaming is a complicated one, with a lot of twists and turns since it made its big splash in the video game industry 25 years ago. Yet for a majority of that time, it’s been stuck in third place, behind Nintendo and PlayStation. That’s a surprising thing to say for a division of a company worth trillions of dollars that also owns some of the most celebrated gaming properties in all of entertainment. Verge subscribers, don’t forget you get exclusive access to ad-free Decoder wherever you get your podcasts. Head here. Not a subscriber? You can sign up here. So Phil Spencer, who started at Microsoft in the late 1980s and took charge of Xbox in 2014, was given the job of trying to turn the division around. Since then, Spencer has tried numerous moves: the Netflix-style Game Pass subscription service; a major push into cloud gaming; buying Activision Blizzard King, the maker of Warcraft and Candy Crush; and many, many different iterations of X

Watch the trailer for Louis Theroux's new documentary 'Inside the Manosphere'

about 12 hours ago

Watch the trailer for Louis Theroux's new documentary 'Inside the Manosphere'

Netflix has unveiled a trailer for its upcoming documentary Louis Theroux: Inside the Manosphere set to arrive on March 11th. It will be the first full-length Netflix documentary for Theroux, and see him interview "manosphere" influencers like Sneako, Justin Waller and HS Tikky Tokky, aka Harrison Sullivan. "I’ve made documentaries for over 30 years now, and in a way, this subject feels like the final boss," the filmmaker told GQ. "From Miami to Marbella, meet the men that are reshaping and radicalising young men’s ideas about masculinity and manhood," Netflix's description reads. In the trailer, we see Theroux interview the influencers and get the tables turned on himself. "I know that they would be streaming or filming me and would put that content out," Theroux told Deadline. "And I hoped we’d get this feedback loop where there was a meta narrative that was then affecting my approach to the story." On top of making documentaries (and being famous for Jiggle Jiggle), Theroux is known for his Louis Theroux Interviews... podcast in which he interviews stars like Sean Penn and Florence Pugh. Prior to that, he did stories on conspiracy theories, UFOS and the porn industry, topics that he said were once niche but are now driving the internet and culture. "I wouldn’t be the first to point out that a lot of this is down to the influence of social media and the way in which it has given vent to the darkest parts of the human soul. Not just given vent to them, but actively amplified them and pushed them into our feeds. So yeah, this is not a niche subject." This article originally appeared on Engadget at https://www.engadget.com/entertainment/streaming/watch-the-trailer-for-louis-therouxs-new-documentary-inside-the-manosphere-131726113.html?src=rss

Warner Bros. Says Paramount’s New Offer May Top Netflix

about 23 hours ago

Warner Bros. Says Paramount’s New Offer May Top Netflix

Warner Bros. Discovery Inc. said a new $31-a-share buyout offer from Paramount Skydance Corp. could lead to a better deal than its existing agreement with Netflix Inc., kicking off another potential round of bidding for the famed Hollywood studio. Warner Bros. isn’t withdrawing its recommendation that investors support Netflix’s $27.75-a-share agreement to buy the company’s studio and HBO operations, according to a statement Tuesday. Instead, it’s saying the latest Paramount terms meet the threshold for further talks. Robert Fishman, Senior Research Analyst with MoffettNathanson, details latest twists and turns in the battle of media giants ahead of Paramount's latest earnings. He speaks with Carol Massar and Tim Stenovec on Bloomberg Businessweek Daily. (Source: Bloomberg)

Trader Bets $14 Million That Losing Warner Bid Would Be Win for Netflix

1 day ago

Trader Bets $14 Million That Losing Warner Bid Would Be Win for Netflix

An options trader appears to be betting almost $14 million that Netflix Inc. will win should it lose out on its bid to acquire Warner Bros. Discovery Inc.

Netflix CEO Ted Sarandos to visit White House Thursday to discuss Warner Bros. bid

Politico Europe

1 day ago

Netflix CEO Ted Sarandos to visit White House Thursday to discuss Warner Bros. bid

Top of the agenda: Netflix’s bid for the media giant and President Donald Trump’s demand that Netflix fire board member Susan Rice.

WBD says Paramount’s new higher offer could be “superior” to Netflix's

Ars Technica

2 days ago

WBD says Paramount’s new higher offer could be “superior” to Netflix's

WBD's board is still reviewing the offer.

Netflix, Disney+ and other major streaming services face stricter UK oversight

2 days ago

Netflix, Disney+ and other major streaming services face stricter UK oversight

Netflix, Disney+, Amazon's Prime Video and other major video on-demand (VOD) streaming services are set to face stricter regulation in the UK. Platforms with a monthly average of more than 500,000 UK viewers will be deemed “Tier 1" services that are subject to similar oversight as broadcasters like the BBC and ITV under the eye of media watchdog Ofcom. Streaming services run by public broadcasters like ITVX and Channel 4 will have to abide by the new rules as well. BBC services such as iPlayer are exempt for now as they’re regulated under the Broadcasting Code, which broadcasters have to adhere to. That said, the UK government plans to update the BBC Framework Agreement so that iPlayer is regulated in the same way as Netflix et al. The government said the new rules will reflect changes in how people are watching TV. It claimed that 85 percent of people use an on-demand service every month while 67 percent watch live TV. It added that two-thirds of UK households subscribe to at least one of Netflix, Prime Video and Disney. According to Variety, the rules will not apply to video-sharing platforms such as YouTube, since those are regulated under the Online Safety Act. However, individual channels on such platforms could be subject to the VOD standards code. Tier 1 platforms will have to adhere to regulations regarding accuracy and impartiality, while ensuring they shield audiences from “harmful or offensive" material. Ofcom will be able to accept viewer complaints over apparent breaches of such rules and carry out investigations. The watchdog will then be able to take action if it determines that there's been a breach of the VOD standards code. That includes fines of up to £250,000 ($337,000) or five percent of "qualifying revenue" per breach. A public consultation will help shape the VOD standards code. The public and streaming services will have the chance to weigh in on what the rules should be. The standards code will then come into force a year after Ofcom publ

Billions of dollars later and still nobody knows what an Xbox is

3 days ago

Billions of dollars later and still nobody knows what an Xbox is

The last few years of Xbox have been expensive. Under Phil Spencer's leadership, Microsoft has spent billions of dollars in an attempt to build an ambitious future for gaming that looks a lot like Netflix. And while its subscription service Game Pass started out as a good deal for gamers (although now not so much), that spending spree has led to catastrophic layoffs, studio closures, and confused and inconsistent messaging about what Xbox actually stands for. And with Spencer set to retire as new leadership takes charge, the future of Microsoft's gaming efforts looks increasingly unclear. Spencer announced his retirement last week, after ov … Read the full story at The Verge.

Netflix CEO shrugs off Trump demands as Warner Bros. deal looms

Politico Europe

3 days ago

Netflix CEO shrugs off Trump demands as Warner Bros. deal looms

With Netflix’s $83 billion bid hanging in the balance, CEO Ted Sarandos dismissed Trump’s demand to fire former national security adviser Susan Rice from the company’s board.