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Max Knoblauch

Looking into its Warner Bros. acquisition, the DOJ probes Netflix for anticompetitive tactics

As the Department of Justice probes Netflix’s proposed $83 billion acquisition of Warner Bros. Discovery, it has reportedly subpoenaed at least one other entertainment company to investigate whether the streamer has taken part in anticompetitive behavior.

Netflix said the DOJ is conducting a standard review and it expects its acquisition to be approved.

Per Wall Street Journal reporting, the DOJ is also seeking out information on how Paramount’s proposed acquisition could harm competition in the entertainment industry.

Netflix has argued that its acquisition of WBD would not be anticompetitive, as there is an 80% overlap in Netflix and HBO Max subscribers. The company has said it competes not just with streaming services but also with broader content platforms like YouTube and TikTok for attention. Netflix booked $45.2 billion in revenue in 2025, compared to YouTube’s $60 billion.

The streamer has repeatedly said it will stick to a 45-day theatrical release window for Warner Bros. films. Movie theater trade groups have pointed out that after theatrical release, many films move to premium video on-demand (PVOD), where they can be digitally rented or purchased for several more weeks or months before moving to streaming (subscription video on-demand, or SVOD). According to Cinema United, the average SVOD window for major theatrical films is 102 days, significantly longer than the potential 45-day window for Netflix.

Exclusive | Justice Department Casts Wide Net on Netflix’s Business Practices in Merger Probe

Exclusive | Justice Department Casts Wide Net on Netflix’s Business Practices in Merger Probe

Per Wall Street Journal reporting, the DOJ is also seeking out information on how Paramount’s proposed acquisition could harm competition in the entertainment industry.

Netflix has argued that its acquisition of WBD would not be anticompetitive, as there is an 80% overlap in Netflix and HBO Max subscribers. The company has said it competes not just with streaming services but also with broader content platforms like YouTube and TikTok for attention. Netflix booked $45.2 billion in revenue in 2025, compared to YouTube’s $60 billion.

The streamer has repeatedly said it will stick to a 45-day theatrical release window for Warner Bros. films. Movie theater trade groups have pointed out that after theatrical release, many films move to premium video on-demand (PVOD), where they can be digitally rented or purchased for several more weeks or months before moving to streaming (subscription video on-demand, or SVOD). According to Cinema United, the average SVOD window for major theatrical films is 102 days, significantly longer than the potential 45-day window for Netflix.

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Jon Keegan

Report: Meta pouring $65 million into PACs backing pro-AI state candidates

With a pro-tech, pro-AI administration in Washington, DC, Meta has decided the next battlegrounds that it needs to flood with cash are in individual states.

Starting in Meta’s home state of California, the tech giant is pledging $65 million to a pair of super PACs that it created to fund pro-tech and pro-AI candidates at the state level, according to a report from Politico.

Meta has funded the American Technology Excellence Project ($45 million) and Mobilizing Economic Transformation Across (META) California ($20 million) to push back on what it sees as burdensome AI regulations coming from state legislatures.

The META California PAC will support tech-friendly candidates regardless of party.

Meta drops $65 million into super PACs to boost tech-friendly state candidates

Starting in Meta’s home state of California, the tech giant is pledging $65 million to a pair of super PACs that it created to fund pro-tech and pro-AI candidates at the state level, according to a report from Politico.

Meta has funded the American Technology Excellence Project ($45 million) and Mobilizing Economic Transformation Across (META) California ($20 million) to push back on what it sees as burdensome AI regulations coming from state legislatures.

The META California PAC will support tech-friendly candidates regardless of party.

TrumpRx

When is TrumpRx launching?

Not on schedule, for one thing.

J. Edward Moreno1/29/26
power
Jon Keegan

FTC will appeal Meta antitrust case

Only a few months after successfully defending itself from an FTC antitrust lawsuit, Meta may be heading back to court. Today, the FTC announced that it would appeal the decision, reopening a yearslong suit.

The FTC called Meta’s acquisition of Instagram and WhatsApp an illegal monopoly. The judge in the case found that in the years since the suit was first brought, the competitive landscape had changed dramatically, with Meta facing fierce competition from TikTok.

FTC will appeal ruling in Meta antitrust case over Instagram, WhatsApp deals

FTC will appeal ruling in Meta antitrust case over Instagram, WhatsApp deals
power
Max Knoblauch

Netflix goes all-cash in bid for Warner Bros., boosting its odds

Netflix on Tuesday applied more pressure to Paramount Skydance in the ongoing bidding war for Warner Bros. Discovery, amending its offer to an all-cash proposal.

Netflix shares ticked up in premarket trading, while Paramount and Warner Bros. were down less than 1%.

The move, which was expected, does not increase the value of Netflix’s $82.7 billion offer for WBD. Netflix said shareholders will be able to vote on the deal in April.

In a Tuesday filing, Warner Bros. said that it values Discovery Global, the spin-off of its cable assets, at between $1.33 and $6.86 per share. Earlier this month, Paramount said it valued the cable TV business at $0 per share.

With Tuesday’s update, event contracts have swung even further in Netflix’s favor, with Paramount’s odds to end up in control of Warner Bros. falling to 14%. That’s below the odds for “none.”

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

Netflix Sweetens Warner Bros. Terms to All Cash in Bidding War

Netflix Sweetens Warner Bros. Terms to All Cash in Bidding War

The move, which was expected, does not increase the value of Netflix’s $82.7 billion offer for WBD. Netflix said shareholders will be able to vote on the deal in April.

In a Tuesday filing, Warner Bros. said that it values Discovery Global, the spin-off of its cable assets, at between $1.33 and $6.86 per share. Earlier this month, Paramount said it valued the cable TV business at $0 per share.

With Tuesday’s update, event contracts have swung even further in Netflix’s favor, with Paramount’s odds to end up in control of Warner Bros. falling to 14%. That’s below the odds for “none.”

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

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Max Knoblauch

Paramount doesn’t improve its offer for Warner Bros., leaving its fate to a long-shot shareholder appeal

Paramount Skydance on Thursday reaffirmed its $30-per-share offer to buy Warner Bros. Discovery, again stating that it believes the offer to be superior to rival Netflix’s.

In a press release, Paramount said its last amendment to the offer — which included a $40.4 billion personal guarantee from Larry Ellison, the father of Paramount CEO David Ellison — “cured every issue raised by WBD.”

The problem: Warner Bros.’ board on Wednesday unanimously voted to reject that offer, its sixth rejection of a Paramount takeover and second rejection of this specific $30-per-share bid. Warner’s board stated that it believes Paramount’s offer to be inferior to Netflix’s due in part to an “extraordinary amount of debt financing” and lower effective termination fees should the deal not clear the regulatory process.

By not improving the bid, Paramount is effectively leaving the deal in the hands of Warner Bros.’ shareholders, who will have to weigh the bids and the multiple rejections. Event contracts show a moderate boost in Parmount’s odds to end up in control of WBD on Thursday morning, jumping to 31% as of 9:30 a.m. ET, up from 27% at 9:00 a.m. ET.

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

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