The Epic, Mega Skydance Paramount Warner Deal: Some Thoughts

News came today that Warner Bros Discovery decided that Paramount-Skydance’s bid ($111 billion) to acquire the company was superior to that from Netflix ($82.7 billion). WBD told Netflix it had four days to up its offer. Little more than an hour later Netflix said it didn’t need four days. It was bowing out. The deal was no longer economic at the price Paramount was offering. An additional fact is that Netflix co-CEO Ted Sarandos was at the White House while these things were happening, apparently trying to see whether Netflix had the thing any major company needs for a merger in 2026: the personal approval of Donald Trump. Apparently they didn’t have it. That’s the autocracy playbook. And at the federal level, that’s the game we’re playing right now.