Netflix shares sink 6.5% in premarket after earnings—CEO talks up Warner deal
While Netflix’s earnings managed to beat Wall Street estimates, the company noted that increased spending on programming and the Warner deal could eat into profits.
While Netflix’s earnings managed to beat Wall Street estimates, the company noted that increased spending on programming and the Warner deal could eat into profits.
Warner Bros. Discovery’s board told shareholders Paramount’s amended offer was inferior to Netflix’s takeover bid.
The apparent hack comes after Paramount CEO David Ellison reportedly told Trump administration officials that “sweeping changes” would be made at CNN if Paramount acquired Warner Bros. instead of Netflix.
Netflix last week announced it would acquire Warner Bros. in a $83 billion deal.
Netflix beat out smaller bids from Paramount and Comcast.
Netflix removed casting support from mobile devices to “most” TVs and streaming devices this month, according to a help page on the streamer’s website, clamping down on its rules and pushing users toward its more expensive plans and native TV apps.
As theatrical releases decline, the 54-year-old actor has become the most bankable star on Netflix, Amazon and Apple—earning $20 million or more a movie—in a major paradigm shift of Hollywood economics. Inside the new A-Minus List.
The renowned conservationist’s last major interview, recorded back in March, has received a posthumous release on Netflix.
Netflix will reportedly not renew its $100 million contract with Prince Harry And Meghan Markle when it expires in September after making five shows with the couple that debuted on the streaming service to various levels of success since 2020.
The streaming service had previously been hailed by Wall Street as a “predictable” stock amid Trump’s unpredictable tariffs.