Big Take The Race to Buy Warner Bros. Discovery
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Oct 21, 2025 
Lucas Shaw, a media reporter for Bloomberg and author of the Screen Time newsletter, dives deep into the takeover bid by Paramount Skydance for Warner Bros. Discovery. He discusses David Ellison's bold strategy to acquire Warner's assets, including plans to maintain studios while offloading less profitable cable networks. Shaw also explores the implications of such consolidation for Hollywood, potential job cuts, and the resulting impact on consumer prices and news coverage. The episode reveals how this move could reshape the media landscape.
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Targeting Studios And Streaming Over Cable
- David Ellison likely wants the studio and streaming assets while spinning off shrinking cable networks to preserve profit-generating parts.
- Combining HBO Max and Paramount Plus would almost certainly lead to merging streaming services and choosing one platform.
Why Waiting Could Lower The Price
- Waiting could lower Warner Bros. Discovery's price as cable networks decline and the stock falls further.
- Mergers distract leadership and often reduce long-term company value despite owning great assets like HBO or Warner Bros.
Regulatory Window Could Favor A Bid
- Ellison may try now to leverage favorable regulatory appetite and reduce competition for the deal.
- His family's relationship with the administration could make a big merger easier during this regulatory window.