Paramount Warns Netflix‑Warner Merger Threatens Hollywood Future
Paramount Chief Legal Officer Makan Delrahim says Netflix - Warner deal would have had "serious consequences for the future of Hollywood." A Paramount-Warner deal is about "increasing the amount of content."
Paramount's $110B Move Targets Rival, Says Antitrust Lawyer
“Paramount is spending 110 billion dollars to take out a rival” — antitrust attorney Ethan Litwin at Capital Forum conference.
Bonta: Trump's Antitrust Tactics Favor Winners, Hurt Competition
CA AG Rob Bonta says Trump's antitrust approach "is not fueling competition or protecting workers. He is handpicking winners and losers."
AI Won’t Replace Human Creativity or the Human Heart
CA AG Rob Bonta says, "AI cannot and will not replace human creativity and human heart."
California AG Calls for AI Bias Limits to Protect Communities
CA AG Rob Bonta says of AI that state "must do everything we can to limit bias in AI and disenfranchising people of color."
California AG: AI's Wild West, But Not Lawless
California AG Rob Bonta says while AI may be the "Wild West" it is not above the law.
California AG Warns Nexstar‑Tegna Merger Harms Competition
California AG Rob Bonta blasts proposed Nexstar-Tegna deal, saying if deal goes through a "a single massive company will have outsized influence" and consumers will suffer higher prices and less access to news and sports.
Bonta Warns Against Corporate Control of Content Pipelines
CA AG Rob Bonta says we can't let a couple of mega corporations currying favor with the president control the pipelines of content.
California AG Vows Tough Review of Paramount‑Warner Merger
CA AG Rob Bonta says his office will be vigorous in its review of Paramount - Warner deal. Concern of higher consumer costs, job loss, etc.
California AG Calls Live Nation Settlement Weak, Illegal Monopoly
CA AG Rob Bonta says Live Nation settlement is "very weak" and "inadequate." Live Nation "acted illegally and created a monopoly." Says State AGs will continue trial if it can't reach a more fair settlement."
AG Rob Bonta Assures No Paramount‑Warner Fallout at Conference
California AG Rob Bonta speaking at Future of Hollywood conference held by Capital Forum. Not expecting any bombs re: Paramount-Warner but will provide some coverage here.
Barry Diller Blames Ten Years of Paramount Mismanagement
Barry Diller says in interview with Graham Bensinger that Paramount was mismanaged for ten years. https://t.co/5f66zaehm7 via @YouTube
Barry Diller Says He'd Overhaul CNN if He Buys It
Barry Diller on hopes to buy CNN: "I would change everything" Interview with Graham Bensinger. https://t.co/mkgyjN8GTY via @YouTube
Merger News Drives Entertainment Earnings Conversation
What’s News in Earnings: Merger News Dominates the Entertainment Business -- @benfritz and I discuss quarterly results and challenges ahead. https://t.co/sZopc3Z4Bf
Paramount CEO Pledges Unwavering Focus on Truth and Trust
When asks about plans for CNN, Paramount CEO David Ellison tells CNBC that we want to be in the truth business, we want to be in the trust business and that’s not going to change.
Netflix CFO Dismisses Full-Season NFL Rights, Eyes Warner
Netflix CFO Spencer Neumann throws some cold water on idea of wanting full season rights to a sport such as NFL. Of course they also said not interested in big deals before going after Warner so....
Netflix CFO Declares Company Pro‑human Amid AI Push
"We're also pro-human." - Netflix CFO Spencer Neumann at Morgan Stanley conference while talking about importance of AI.
Netflix CFO Confident Regulatory Approval for Warner Acquisition
"We had high confidence" of getting through regulatory, says Netflix CFO Spencer Neumann on pursuit of Warner's studios and streaming operations.
Netflix CFO Says Company Remains Small, Poised for Organic Growth
Netflix CFO Spencer Neumann says at Morgan Stanley conference that the streaming company "is small" with a runway for organic growth.
Paramount's 25% CW Stake Equals CBS and Warner Combined
Fun fact: Paramount will now own 25% of the CW Network. CBS and Warner each held 12.5% stakes so...25%.
Murdoch Predicts Paramount-Warner Will Keep Third‑party Sales
Fox Corp. CEO Lachlan Murdoch says he expects Paramount-Warner to continue to sell content to third parties and anticipates that will be a condition of the deal.
Fox CEO: Bigger Isn't Better, Quality Trumps Scale
Fox CEO Lachlan Murdoch says at Morgan Stanley conference, "We don’t believe in scale for scales sake, we don’t believe you need to get bigger to get better."
Paramount CEO: No Production Cuts, Streaming Demands Investment
"We have no intention to pull back on production," says Paramount CEO David Ellison, who adds combining streaming requires investing in content to achieve growth goals.
Paramount CEO Urges HBO to Remain Independent, Seeks Bloys Deal
"HBO should stay HBO," promises Paramount CEO David Ellison. Praises Casey Bloys and says "Game of Thrones" is his favorite HBO show." I'd get to negotiating a new deal for Bloys then ASAP.
Paramount CEO's Forced Excitement Masks Warner Deal Hype
Paramount CEO David Ellison calls deal to acquire Warner, "a unique and thrilling moment." Alas he said it with the enthusiasm of a parking attendant telling you to head to the roof for a space. Pre-recordings never sound exciting.
Par‑WBD Forecasts $69B Revenue, $18B EBITDA
Combined Par-WBD estimated to have $69 billion in proforma revenue and $18 billion in EBITDA.
Paramount Targets $6
Paramount COO Andy Gordon says $6 billion in synergies can be realized in three years from consolidating streaming structures, optimizing real estate holdings, combining various units, etc.
Paramount Pledges 30 Films, 45‑day Window; HBO Stays Independent
Paramount CEO David Ellison commits to 30 theatrical movies and a 45-day window and says HBO will continue to have the resources and independence to "do what it does best."
Ellison Sees Warner Deal as Next‑gen Media Catalyst
Paramount CEO David Ellison says deal with Warner is opportunity to help shape the future and build the next generation media and entertainment company.
Hollywood's $81B Takeover Sealed in Six Months
Six Months, 9 Offers and $81 Billion. How Hollywood’s Nasty Takeover Was Won. W/@jtoonkel @laurenthomas @davidamichaels https://t.co/TFOmN7A5Zq
Netflix Forces Paramount Debt, Secures Streaming Dominance
"Netflix’s real triumph was driving up the price Paramount had to pay and saddling the newcomer with enough debt to hobble any challenge to Netflix’s streaming dominance." -- @HolmanJenkins https://t.co/4V3TUD31y8
Paramount Wins Antitrust Battle, Faces Junk‑Debt Merger Challenge
"In a world in which antitrust has become a political weapon, Paramount had the upper hand. Its reward means it will now have to combine two companies whose debt is junk-rated and find a media business model that works." https://t.co/Lx1hXs4Ijz...
Schiff Demands Independent Review of Paramount Merger
Sen. Adam Schiff: “What was true for Netflix is still true now for Paramount. The merger of two of Hollywood's biggest studios must be subject to the highest levels of scrutiny, free from White House political influence, to determine...
Antitrust Panel Seeks Second Look at Netflix‑WBD, May Add Paramount
Antitrust subcommittee wants a second chance to beat up on Netflix - WBD deal and has hearing scheduled for March 4. Will they add Paramount to mix if at that point they are in driver's seat?
FCC Continues to Stay Silent on Warner Approval
For the ten millionth time, the FCC is not weighing in on the approval process for Warner.
WBD CFO Insists only Financially Viable Sports Deals Will Proceed
"We’re not going to be doing deals that don’t make financial sense for us" -- WBD CFO Gunnar Wiedenfels on sports rights deals. Question: Do any sports deals make financial sense?
Warner Board Claims Value Delivery Amid Sale Process
The WBD board is "delivering significant value to WBD shareholders throughout the [sales] process" -- Warner CEO David Zaslav
Paramount Waives MAE Clause, Adds Cash for Lender Solvency
Paramount is waiving Material Adverse Effect clause for cable network biz. In other words, any declines before close won't effect deal price. Also Paramount agrees to put in more $$ to satisfy lenders if necessary to support the solvency certificate....
Monday Deadline Is Negotiation Window, Not Offer Deadline
While it seems likely that next 24 hours will see news on Paramount - WBD - Netflix, the Monday deadline is the negotiating window between Paramount and WBD. It is not a deadline for an offer so in the unlikely...
Lawmaker Flags Security and Editorial Risks in Paramount‑WBD Deal
Rep. Sam Liccardo (D-CA) is concerned about all the foreign money tied to Paramount's efforts to acquire WBD. In letter to Paramount CEO David Ellison, Licarrdo writes: "this acquisition raises serious national security, data-protection, and editorial-independence concerns that warrant full...
FCC Chair Denies Censorship, Demands Equal Airtime for Candidates
"There was no censorship here at all," says FCC Chair Brendan Carr on Colbert not airing Talarico interview. CBS just has to give comparable time and placement to other candidates running against Talarico. Some might say that would discourage shows...
FCC Chair: Equal Time Rule Applies to Broadcast, Not Radio
FCC Chair Brendan Carr says, "the equal time rule is going to apply to broadcast across the board" but adds he hasn't seen same issues in radio.
Netflix Labels Paramount's Bid Tactics a Warner Distraction
Netflix on Tuesday called Paramount’s “antics” in the bidding process an “ongoing distraction” for Warner shareholders. https://t.co/qxzp2o4uzj