A bidding war for one of America’s biggest media companies is colliding with Trump-era power
Oh, remember that big breaking story about how Netflix snuck in with a winning bid to buy Warner Bros. Discovery in a mega-media deal?
Uh, not so fast.
Paramount has launched a hostile takeover bid to snatch Warner Bros. Discovery away from Netflix in a media fight that sure is going to be, well, hostile.
Just last week, Netflix stunned the business and media world by announcing an $83 billion bid for most of Warner Bros. Discovery, including its film and TV studios, its gaming business, HBO Max and HBO. Left just as stunned were Paramount and CEO David Ellison, the overwhelming favorites to buy the whole Warner Bros. Discovery package, including its cable news properties such as CNN and TNT.
Related Knowledge Center: State of the business model
The traditional journalism business model has long since collapsed, and news organizations have shrunk or disappeared entirely. While a number of promising experiments are under way, the public has not shown a willingness to buy what news organizations are selling.
Related Knowledge Center: The White House vs. the press
Whether it’s the Des Moines Register’s publication of an unfavorable election poll, a routine edit of a 60 Minutes interview with Kamala Harris, or the Associated Press’s decision in its authoritative stylebook to continue to use “Gulf of Mexico,” Donald Trump and the White House have used executive authority and legal reprisals in an effort to punish and suppress press coverage that runs contrary to the administration’s preferred narratives.
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