"In an $82.7 billion deal, Netflix will acquire the Warner Bros. catalog and film-studios division, along with its gaming properties and HBO/Max; other properties, like WBD's cable channels (CNN, Turner Classic Movies, TLC, TNT Sports, Food Network) and Discovery+ streaming service, will still end up in a "Discovery Global" spinoff company, per the terms of a business plan Zaslav announced this summer."
"So ... it's all over?? As the New York Times' DealBook noted, this doesn't necessarily mean we'll have a Warnetflix behemoth by this time next year. Paramount Skydance CEO David Ellison, the nepo baby with a direct line to the White House, is likely to pitch another fit over the supposedly "unfair" terrain of the bidding match-and he may just get some support from his powerful friends, whether in the form of a federal antitrust lawsuit or a disapproving Federal Communications Commission vote."
"An administration official has told CNBC that the Trump team views the deal with " heavy skepticism," surely an understatement considering the White House has repeatedly gone into war-room mode over Netflix's WBD bid over the past few weeks-including a Wednesday confab with David Ellison himself."
Netflix emerged as the winning bidder in an $82.7 billion transaction to acquire Warner Bros. Discovery's catalog, film studios, gaming properties, and HBO/Max. WBD's cable channels and Discovery+ will be separated into a new "Discovery Global" spinoff under David Zaslav's business plan. NBCUniversal and Paramount Skydance were the principal competitors, and Paramount Skydance's CEO David Ellison may pursue legal or regulatory challenges including antitrust action or FCC opposition. The Trump administration has signaled heavy skepticism and engaged with stakeholders. The split-and-absorption process could take up to a year and may face delays.
Read at Slate Magazine
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