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Opponents of the Netflix-Warner Bros. deal take fight to Europe

Europe is the latest frontier of the ongoing tug-of-war for the “Friends” back catalog.

1/16/26 11:51AM

Struggling to gain a foothold in the US, the groups opposing Netflix’s $83 billion acquisition of Warner Bros. Discovery are mounting a European assault.

Paramount Skydance CEO David Ellison this week met with top European film industry execs and French President Emmanuel Macron in Paris, while other Paramount execs traveled to the UK and Germany to lobby regulators against Netflix’s offer.

Trade groups representing AMC and other movie theaters with European exposure also lobbied EU regulators against Netflix’s deal.

The efforts come as Netflix racks up small US wins in its war of attrition to complete the deal. A Delaware judge on Thursday dismissed Paramount’s motion to speed up its lawsuit against WBD. Paramount’s current $30-per-share offer expires on January 21, though Warner Bros. argued that Paramount “set its own expiration date.”

On Friday, Netflix appeared to dispel theater owners’ fears about limited release windows, with co-CEO Ted Sarandos telling The New York Times that the company would run Warner Bros.’ film business largely like it’s run today.

“When this deal closes, we will own a theatrical distribution engine that is phenomenal and produces billions of dollars of theatrical revenue that we don’t want to put at risk. We will run that business largely like it is today, with 45-day windows,” Sarandos said. Shares of AMC and Imax climbed on Friday following the interview.

Those moves follow reports earlier this week that Netflix is planning to strengthen its current WBD offer by making it all-cash.

Event contracts are beginning to swing heavily in Netflix’s favor, with Paramount’s odds to end up in control of WBD falling to 19% as of 11:30 a.m. ET on Friday, down from 31% on Thursday.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

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American Airlines joins the flock, hiking bag fees amid higher jet fuel prices

American Airlines on Thursday announced that it, too, will be hiking the fees it charges customers to check luggage.

With the move, all four of the major US airlines, which together control about 80% of the US market, have now hiked their baggage fees in recent days amid surging jet fuel prices.

The change will go into effect on tickets bought on or after Thursday, the same day Southwest’s hike begins.

Since late March, JetBlue, Delta Air Lines, United Airlines, Canada’s WestJet, and Southwest have hiked their fees. Experts expect more major carriers to follow, and to potentially tweak the pricing of other ancillary revenue sources like seat assignments and carry-on luggage.

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The change will go into effect on tickets bought on or after Thursday, the same day Southwest’s hike begins.

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Less than a year after implementing them, Southwest is also hiking its bag fees

Southwest Airlines has joined the growing list of airlines opting to hike their bag fees amid sustained higher jet fuel costs.

Starting today, the first checked bag at the carrier — which implemented bag fees less than a year ago — will jump from $35 to $45, and the second from $45 to $55. Southwest quietly disclosed the change Tuesday.

Southwest assigned the decision to “part of an ongoing analysis of the business and against the evolving global backdrop.”

As of Wednesday, jet fuel prices dropped to $4.16 a gallon, per the Argus US Jet Fuel Index, down from $4.81 on Tuesday following President Trump’s ceasefire announcement, which sent travel stocks soaring. Major airlines have shed some of those gains in premarket trading Thursday.

With the move to hike bag fees, Southwest joins JetBlue, United Airlines, Delta Air Lines, and Canada’s WestJet, all of which also boosted fees this month. Experts expect more major carriers to follow, and to potentially tweak the pricing of other ancillary revenue sources like seat assignments and carry-on luggage.

Three US airlines have already hiked baggage fees. More are likely on the way.