Money Stuff: The Podcast Best and Final: WBD, IPO, BNPL
80 snips
Dec 12, 2025 Dive into the intense bidding war for Warner Bros., where Netflix and Paramount's offers are intriguingly close. Explore the complexities of negotiating against yourself and the factors that influence board decisions. Unpack the speculative excitement around a potential SpaceX IPO and its staggering valuation. The discussion also touches on operational risks tied to rocket launches and the evolving landscape of private credit regulation. Discover how these dynamics could reshape public and private markets!
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Negotiating Against Yourself Costs Leverage
- Negotiating against yourself undermines leverage in bidding wars and produces strange outcomes.
- Matt Levine notes Warner's board accepted Netflix because they valued its stock component higher despite a cash rival.
Dad's Checkbook On The Acquisition Table
- Paramount's bid depends heavily on borrowing against Warner assets and outside equity backstops.
- Matt Levine quips it's odd to be CEO and rely on your dad's checkbook for a massive acquisition.
Politics Looms Over Media Mergers
- Political influence can shape merger outcomes when regulators consider national sensitivities like CNN's editorial posture.
- Levine highlights Trump's dislike of CNN as a backdrop that could sway antitrust or review decisions.