The Powers That Be: Daily Media Monday: Netflix’s $83B Hollywood Heist
Dec 8, 2025
A monumental $83 billion deal sees Netflix outmaneuver Paramount and Comcast to acquire Warner Bros. Discovery's studio and streaming assets. The hosts dive into potential antitrust scrutiny from regulators and the implications for major media players like CNN and Disney. They also discuss the creative community's concerns about Netflix's influence on theatrical releases and future content investments. Will this deal spark a wave of consolidation in the industry? Tune in as they dissect this ambitious move in the media landscape.
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Speed And Price Won The Auction
- Netflix won by offering a higher overall enterprise value and moving fast in late-stage bidding.
- Jon Kelly and Peter Hamby say speed and a bigger equity-plus-cash package beat Paramount's earlier lead.
Regulatory Scrutiny May Be Largely Rhetoric
- Regulatory review is possible but not guaranteed, and political noise may not translate to enforcement.
- Peter Hamby and Jon Kelly argue Trump-era rhetoric likely won't produce substantive antitrust action here.
Positioning The Deal As Tech Competition
- Netflix can argue it's competing with tech giants rather than consolidating traditional media.
- Jon Kelly says that positioning the deal against YouTube, TikTok and Amazon strengthens Netflix's defense.