WBD

Zoo12345678

Calls on WBD

PlayerPlayer69

Netflix is giving WBD 80% of what Paramount is giving, except Netflix is leaving WBD enough cake to start their own platform and continue making money. Paramount wants the whole cake. No leftovers.

AbbreviationsThis391

Market fears a bidding war. WBD shareholders expecting a $33 PSKY bid. Fear on wallst is that NFLX might match or go higher. I work as an analyst, that’s what I hear from investors.

DONNIENARC0

Not only that, they get paid out: > If Warner Bros. Discovery (WBD) backs out of its acquisition agreement with Netflix, it would be required to pay Netflix a reverse breakup fee of $2.8 billion

Spins13

If they were buying WBD stock on the hope of a sale, the shareholders probably are regarded

Separate_Fold5168

If NFLX doesn't soar the day WBD backs out I'm gonna flippin lose it.

cgfn

This is actually a pussy move by Larry. He’s backstopping like half the deal instead of the whole deal. WBD will still reject if the trust if Larry can’t be plugged for specific performance in whole. Larry just jerkin off and wasting everyone’s time at this point

TeamConsistent5240

You are right, the net debt should be included as well. Doesn’t change the pro forma earnings much though. In 3 years, they will have been able to pay down net debt, merge platforms, and reprice. Netflix had a ton of debt and a BB- minus in 2019 as well.. it’s the same old story with Netflix. It all comes down to pricing capacity, execution, and competition. I personally think Netflix can get up to ~$40 account in today’s dollars with WBD in North America.

SummerOfAnge

if the govt/rw takeover of cbs/cbsnews reality this weekend & instant illegitimacy/reputational fallout doesn't seal the deal against WBD shareholders' approving psky/ellison sr.'s taco-bootlicking hostile takeover gambit....idek cronkite rolling in his grave fr

PatientBaker7172

Total New Debt: Netflix plans to take on approximately $50 billion of new debt financing. Assumed Debt: It will also assume about $10.7 billion of existing net debt from WBD. Leverage at Close: The pro forma net leverage ratio (net debt to EBITDA) is estimated to be around 3.0x at closing Timeline: The company aims to deleverage to target levels within two years of the deal's closing. I prefer to stay away from such large debt during current cycle.

soleobjective

There’s more to why Ellison wants WBD so badly.

captain_ahabb

WBD is a very distressed asset

No_Assistance5652

They have to pay NFLX 2.8 bil. It's win-win for Netflix. Ellison guaranteeing it with 5.6 Bil if he breaks the contract. Taking Ellison bid is retarded tho for WBD.

moutonbleu

Do both! Hold DIS and buy NFLX. As a fellow $DIS it's been brutal but I believe! It's one of Barrons top 2026 picks. I'm a believer in Comcast/Universal too, and will open a position in NFLX in the new year after I sell the rest of my WBD stock. >[https://www.barrons.com/articles/best-stocks-buy-2026-amazon-exxon-disney-439f8e78](https://www.barrons.com/articles/best-stocks-buy-2026-amazon-exxon-disney-439f8e78) While [Netflix](https://www.barrons.com/market-data/stocks/nflx?mod=article_chiclet) and [Paramount Skydance](https://www.barrons.com/market-data/stocks/psky?mod=article_chiclet) are prepared [to pay a stiff price](https://www.barrons.com/articles/paramount-letter-warner-bros-shareholders-superior-aa479f33?mod=article_inline) for Warner’s movie, TV and streaming business, Disney shares languish despite controlling some of the industry’s best assets. >Disney stock, at around $107, was hit after its September-quarter results due to a disappointing experiences segment, which is dominated by Disney World and other parks. The profit outlook, however, looks better, with Disney projecting double-digit earnings growth in the 2026 and 2027 fiscal years, helped by its cruise ship expansion. >The stock is valued at 16 times projected earnings in the fiscal year ending in September. That’s too cheap given its “valuable intellectual property and durable demand,” according to Wolfe Research analyst Peter Supino, who has a price target of $133. >What’s more, Disney has similar total earnings as Netflix, but only half the market value. With Netflix potentially becoming more of a traditional media company if it buys Warner, why buy Netflix at double the valuation to Disney? >Don’t overlook CEO Bob Iger, who is due to retire at the end of 2026 after his second tour as Disney’s leader. He likely wants to go out on a high note—and that’s bullish for the stock.

Arabian_Goggles_

I started a Netflix position recently for the same reasons. Only thing I would add is that it likely trades sideways for a year or two before the whole WBD thing gets figured out.

softboiledjadepotato

This ORCL, WBD, NFLX lovers/quarrels triangle got me tired boss

Affectionate-Day2743

people are worried that NFLX is now going to bid *even more* for WBD

NonimiJewelry

I remember calling out this play on here and my post being removed and called a moron. This WBD calls went to $16,000+

Medical-Shoulder-337

Larry just teabagged Netfix right in front of WBD

feralraindrop

One argument for a Netflix acquisition is that it isn't buying Warner Bros. Discovery's (WBD) traditional linear cable channels, including CNN, TNT, TBS, TruTV, and Cartoon Network while Paramount wants everything, just mentioning this because this makes the bid prices more on par with each other.

callsonreddit

Larry Ellison backstops $40.4B Paramount bid for Warner Bros as PSKY +4.3% and WBD +3.5% [https://finance.yahoo.com/news/oracles-larry-ellison-agrees-to-backstop-404-billion-in-financing-for-paramount-acquisition-of-warner-bros-145133265.html](https://finance.yahoo.com/news/oracles-larry-ellison-agrees-to-backstop-404-billion-in-financing-for-paramount-acquisition-of-warner-bros-145133265.html)

AntoniaFauci

Oh wow, that has to hurt. DIS has hovered around half of its pre-pandemic value for 6+ years. I’m sure someday a narrative will appear and give DIS stock a surge, the way some other big left for dead names do. Whether it’s real or temporary. I just don’t know when that surge will happen. This month? 2030? DIS board and executive has been incompetent for many years. The one opportunity they had to help shareholders with an activist, they spent a mega-ton of shareholders money to create a blockbuster smear campaign on him, and then a second mega-ton of your money to rig a proxy vote and reject him. Yes, I’m aware he’s a bit of a dick. But for shareholders, his involvement had been the only good news for the better half of a decade. Just rumors of him volunteering revived a dead stock by 50%. The day they rigged the result to flip him to a loss, the stock went straight back down and remains lower. Still, one wonders if someday even a blind and aggressively bad squirrel won’t accidentally find a nut. Maybe it will be a narrative that if WBD can triple, why can’t DIS? Maybe something else. Personally I’m accumulating NFLX here and will do so lower too. They appear to have won TV. Tapping into wrestling addicts gives them new potential and a market who is price insensitive. Similar with their clever way of leveraging micro “events” rather than draining themselves on sponsorships. The most recent hard data we have was the earnings, which were actually spectacular... but that was obscured by the decision to take a full one time charge in Brazil. Without that, the stock would have been close to $150. That inspired negative news flow, and just when that was dying out, they made the unexpected move to get into the WBD bidding war. I like buying NFLX at a 30% discount to where it was before the strong earnings. WBD will ultimately be a win whether they prevail or back out. That could however weigh on the stock for a year or more. My price target is $150, so it doesn’t bother me if it takes a year or two or three to get there.

dont_downvote_SPECIL

Netflix (-14%; $4K) What's crazy was that it was actually one of my best investments this year before they put their dirty fingers in the WBD pie

AlGAdams

GOOG could aquire MU 2 times over and it'd be a better deal than WBD

VegableProperties

I think they've lost more than the total market cap of WBD at this point

ETFBro4DaWinz

Surely time to buy NTFLX would be after they blow a quarter of their market cap on WBD?

zurijer

Why is NFLX dying? They’re still going to win the bid. WBD doesn’t fk with PSKY

VegableProperties

You gotta wonder why PSKY didnt just bid higher when WBD was taking bids instead of waiting until after the bidding war ended to start a bidding war.

lifeofpi21

The bidding war I hoped would happen with Paramount is unfolding with WBD. Shari Redstone dropped the ball.

CrusaderZero6

Where are you seeing that it’s not going through? All I saw was news about them refinancing the purchase loan. Hoping you’re right. I’ve got puts on WBD.

PossumImposter2

Can someone smarter than me explain why NFLX crashed when they announced they were buying WBD, but now that it looks like it isn’t going through, it’s going down again? Shouldn’t it.. go up if that what was scaring everyone?

VegableProperties

I was talking to a friend who works at WBD in games and they were saying how their job was probably fucked either way, but prefers Netflix because they at least have a chance of not shuttering games entirely

Far-Requirement9180

Regarded that WBD drama lol

Internal_Field5970

Larry is trying to put WBD under the tree for David this Christmas 

Samjabr

FFS, CNBC has a story about NFLX, PARA, WBD merger every day. No one gives a shit.

LegitimateShameHands

NFLX always drops whatever the news is regarding WBD. It literally drops no matter what

NYSE_941_Gray

Please read news and dump position, it will stay 93-98 until deal with WBD is finalized

Happy_Discussion_536

Piece of shit PSKY Paramount trying to curry favor with 🥭, maybe still take another shot at WBD? >A CBS News spokesperson told Puck News that the episode “needed additional reporting.” A “well-placed” source, however, told Puck’s Dylan Byers: “It did not need additional reporting. It went through every layer of fact-checking and was reviewed by all the lawyers.” Byers reported that the episode was ready to go until it was seen by CBS News chief Bari Weiss, who decided to hold it. >The episode will likely be held pending comment or an interview with White House officials next year, according to Semafor. https://www.thedailybeast.com/60-minutes-suddenly-drops-segment-on-major-trump-controversy/

Bagholder147

What up guys. Found another buyout play DBRG. SoftBank looking to buy them out. Potential price target $25-$35 a share. Missed WBD? Here's your chance. Shares jumped Dec 5th on the rumored news. Have a great profitable week and Merry Xmas regens.

Natural_Level_7593

Plus the WBD deal with Netflix needs government approval and PSKY has Don's ear.

ThreadfallRider78

There’s nothing wrong with holding all cash and waiting for the right opportunity to present itself. i.e Bought WBD at 22 sold at 29 and change. Bought MDLN at 35-36 when it was available (I didn’t request shares pre-IPO because I didn’t know how it was gonna go) and sold it at around 39.

ThreadfallRider78

I’m all cash right now. Generally, I found that jumping in on high institutional volume short holding interval plays is a great strategy. My last two plays were WBD and MDLN

TimeInTheMarketWins

26.59%! Largely due to the overall market + WBD merger.

smolquacc

I’m just a bit worried about the WBD and DOJ drama tbh.

DanielzeFourth

This is when you know a stock doesn’t have much room to run anymore. Reddit saying whatever it wants to keep a growth story in place. YouTube is going to gain 20% from the Netflix and WBD merger apparently. Waymo ran over a cat last week. All the publicity is going to 99x Google market cap from the publicity.

pilotzd

From this deal's perspective, yes it's hard to say about Paramount's capacity without seeing the actual deal. But I think from the combined company perspective, David Ellison would have more incentive for the movie industry to produce better content just from personal background. Netflix has too many career bureaucrats and too little passion at this point. IMHO a better deal would be if PSKY does a cash + stock deal, so WBD shareholders can share that part of the upside.

stockjocky

in 2024 my wife gave me some cash for DWAC, RUM and DJT. she made a small fortune. in 2025 she gave me more cash for Gold/Silver, BW, WBD and more. all Long Calls. Schwab shows a YTD Profit at 626%. I have to track all her positions and it keeps me busy. i research her recommendations. she watches pod casts all day and comes up with some crazy trades. i just watch the profit increase daily and relax. that is my trading style now. The boss is in control and she let's me know it !

Cold-Awareness4153

Slightly confused why you didn't sell these contracts when $WBD hit close to $30 which was going to be Paramount's bid for the stock that was openly mentioned 2 days prior? Do you intend on executing some of these calls by holding to maturity?

SerpentRoyalty

More like got lucky WBD sold off. Nothing to do with balance sheets.

Helios330

https://preview.redd.it/0ls3m2o1i28g1.jpeg?width=1290&format=pjpg&auto=webp&s=a4008f6d8817696e33ab9ca3d5294ba4154eb715 This is a casino, and WBD was like playing roulette, while the board is telling you where it was gonna land, before you bet

Bagholder147

Does Oracle up make WBD go up ....weird?

Cav829

Maybe Larry and his son can start a TikTok and raise $90 billion for that WBD offer.

PalpitationSmooth992

look at the volume for WBD 27 and 26 puts in Jan

NYSE_941_Gray

Because they may or may spend 80-100+billion on WBD, thats roughly 25% of the total worth of NFLX —- > ?

PepperDogger

Hey, it's in a revocable trust, apparently, so no possible hidden corruption motives. We like to keep our corruption in plain sight. Speaking of which, Jared, how's that Skydance middle-east wealth fund attempted purchase of WBD (& CNN) going for you and the Saudi, Qatar, and UAE sovereign wealth funds? Of course your father-in-law will play the rules and not block other bidders. Right??? [https://www.theguardian.com/commentisfree/2025/dec/11/jared-kushner-paramount-warner-bros-deal](https://www.theguardian.com/commentisfree/2025/dec/11/jared-kushner-paramount-warner-bros-deal)

zurijer

Why is WBD trying to host a shareholder vote in the Spring or Summer of 2026. These regards can’t even work efficiently to have this bid be a done deal by EOY? Lmfao

supsupman1001

this is all about kickbacks, I only give a fuck about who is buying out my WBD shares for the highest price, and that is Paramount. Why would any shareholder want less money for their shares?

904Funk

Does anyone have insight on how the Paramount offer of $30 a share for WBD works As in, if I elect to tender my shares over to them by January 6th how long does a process like that take? At this point I don’t want to wait for Netflix to be shutdown on this merger in 8 months give or take and then watch WBD fall back to the teens. I’m holding out for a higher PSKY bid so I can bail before the 6th, but as of now to make my biggest bang for my buck is accepting their $30 per share. If you have any experience with this kind of scenario or knowledge of how this works I’d greatly appreciate it

PossumImposter2

Has there ever been a worse move by a CEO than Sarandon trying to buy WBD? It is becoming obvious he was greased by someone to disrupt Netflix’s monopoly. This guy will be in jail by next year, mark my words once NFXL is delisted.

PossumImposter2

Has there ever been a worse move by a CEO than Sarandosn trying to buy WBD? It is becoming obvious he was greased by someone to disrupt Netflix’s monopoly. This guy will be in jail by next year, mark my words once NFXL is delisted.

cripky

imagine if 🥭 announced that the government is bidding on WBD 😬

sanfranchristo

Not sure where you live but in the US, I believe that typically one's brokerage provides ownership information to any companies owned who send (or have sent) relevant voting rights notices. I'm sure you can look this up on what I assume is an investor relations section on WBD site if your brokerage doesn't make it obvious.

CouchPotatoFamine

Paramount just offered my $30 a share for my WBD.

deviltrombone

They dropped out of the Paramount hostile bid for WBD yesterday. I wonder if there's anything more to this apparent distancing from that orange thing.

hv876

Back in September Larry Ellison was the richest man on the planet. He was also the most powerful. Man single handedly tanked the AI trade, killed Broadcom, made WBD leave for NFLX

Thisispaartaaa

probably why WBD is skeptical of Paramount/skydance financing, lol...ole Ellison is going broke, can't finance his kid's/diaper don's purchase of CNN parent co

ShadowLiberal

Plus IMO Paramount's offer was also pretty bad considering how low it valued the rest of WBD that Netflix wasn't buying in the first place. Investors could have probably made more money just selling their WBD shares after the Netflix deal went through then accepting Paramount's deal.

ShadowLiberal

There's a lot of misinformation spreading about what the deal will actually do from the people who oppose it, who are either just uninformed, or willfully spreading misinformation. For example, within hours of the deal being announced accounts on social media started screaming that Netflix would turn CNN into a Liberal propaganda outlet... despite the fact that Netflix isn't buying CNN, so they would have no control over it. A bunch of people have also been screaming that Netflix will kill movie theater releases, even thought part of the deal that Netflix signed commits them to continuing movie theater releases for stuff by the WBD movie studios.

himynameis_

I'm not 💯 certain. But the sentiment is, Netflix is already the dominant paid streamer. In all streaming they're still quite a ways behind YouTube in total screen time. In total screen time they're behind YouTube. Even with WBD they'd be behind. The idea is, it's the #1 paid streamer buying a #4-5 making it a risk. Versus, say, a #5 buying a #4. Know what I mean?

Metacog_Drivel

WBD recommend taking the NFLX bid over PSKY because Larry Ellison's son is just "Too creepy tbh."

ShadowLiberal

> Earlier this month, Netflix ultimately prevailed in its $27 billion cash-and-stock acquisition of Warner Bros.' non-cable assets. This is incorrect, it's closer to $27 *per share* (the exact value is hard to calculate since part of it is funded with Netflix shares). The way this is written makes it sounds like WBD rejected an offer for quadruple what Netflix offered.

feedmestocks

I'd say probably not in the short term, they wanted that Studios and Streaming sector as they're both growing vectors. The Network part is taking on all the debt the current WBD has and is in decline. No one is doing Trump a $30 billion favour

Classic_Web5494

WBD is currently trading around $28.90-$29.71. The article mentions a $30/share offer from Paramount, which isn't exactly a massive premium over current prices. "Greater certainty and value" in these mega-deals is usually just talk.

WilsonMagna

Yep, and even if shareholders choose NFLX, gotta somehow get it approved despite Orange opposition, and court case could take a year to finish. I like NFLX if it does get WBD assets, but unsure merger will get through.

civilengineer81

So, if they guarantee, they will take it. If it drops under 28, I will load some WBD calls for for January.

callsonreddit

WBD rejected higher bid not because they hate money but because: >Paramount had "consistently misled" Warner Bros shareholders that its $30-per-share cash offer was fully guaranteed, or "backstopped," by the Ellison family [https://finance.yahoo.com/news/warner-bros-discovery-board-rejects-120335579.html](https://finance.yahoo.com/news/warner-bros-discovery-board-rejects-120335579.html)

feralraindrop

Netflix isn't buying Warner Bros. Discovery's (WBD) traditional linear cable channels, including CNN, TNT, TBS, TruTV, and Cartoon Network while Paramount wants everything, just mentioning this because this makes the bid prices more on par with each other.

Artistic-Western6342

Another day, another "sources say" special. Warner Bros. Discovery's board is reportedly rejecting Paramount's $108.4 billion hostile takeover bid, likely favoring Netflix's existing $82.7 billion deal for its studio and streaming assets. WBD shares are currently trading around $29-$30, not far from Netflix's $27.75 per share offer.

christopher_harris12

Classic WBD move. “Great idea, love the synergy… but who’s paying for it?” Debt hangover still undefeated. Zaslav basically saying “nice offer, call us back when the balance sheet doesn’t give me heartburn.” WallStreetBets translation: no cash, too much leverage, vibes are off.

GQDragon

More details on why Kushner decided to exit: "A person close to Paramount said Kushner’s exit from the offer was meant to smooth over the bid’s path with WBD’s board and strip out the “noise” about his ties to President Donald Trump. The person added that his withdrawal had no bearing on the Middle Eastern backing." https://www.ft.com/content/6443abe1-c1ee-4f28-8a8a-408a3e8f6077

Happy_Discussion_536

Who cares. There won't actually be antitrust. It's offering NFLX shares at market value. It's fine and more than worth it for the enormous value NFLX can get out of HBO and WBD's content.

Llanite

Oh they still wont. Paramount is 25% the size of WBD 😂 thats like a mom and pop grocery is trying to hostile takes over Walmart.

bkcarp00

The Netflix deal isn't a hostile takeover. Shareholders would receive 23.25 in cash and 4.50 in Netflix shares. They would also keep shares of the spun off global networks that Netflix is not buying. The Netflix deal does need a vote but it's a totally different deal already approved by the WBD board.

Electronic-Crazy5488

It’s owned by Larry Ellison who could buy WBD 5 times over lol, I’m sure there good for the money, and Jared Kushners involvement was a measly $200 million.

8InchDaks

Man, get out of options and gambling. Choose undervalued companies and an index fund and you wont regret it. If you literally gave this to me I could have 3-4x’d it this year, took your original $400k and we both would have been happy. Few of my plays this year that were 3x+ were WBD, HUT, rigetti, Sofi, BE (this was 5-7x for me) My lowest return is 38% ish? like man its not hard. Just do some research. Find some companies. Throw some in them, and wait.

hc1001

Why did nflx price go up when this news broke out? Shouldn't it have gone down since Netflix is buying WBD? Doesn't nflx price recover once the deal is finalize(which I think I read ~1years).

Happy_Discussion_536

It's obviously bullish. WBD will reject PSKY.

Mister__Mediocre

Netflix is already priced with the belief that they'll be the clear winner of the streaming wars. So from that perspective, acquiring WBD seems like a waste of money. Netflix could alternatively just have steadily outcompeted its competitors over 10 years and bought the paramount + WBD assets when the merged entity eventually went bankrupt. Not saying that's how it was going to play out, just that that's how it was priced to play out.

Mister__Mediocre

Nah, the market fell a lot when Netflix announced the bid. I think there two big risks here. First is as you say the debt. Second is that Netflix might have to become more like a Legacy studio with this deal (adopting WBD's relationships with Directors, Unions, Ideas), which could be a bad thing if you believe legacy studios are fundamentally a bad business, as the markets probably do.

Mister__Mediocre

The risk is that Netflix becomes more like WBD, which is not a good thing looking at how legacy studios have been doing of late.

redhill_qik

The Netflix offer is $82.7B in cash-and-stock worth $27.75 per WBD share for a purchase of selected WBD assets. Not $27B.

JoeDawson8

WBD rejected the offer. Kushner pulled out of the deal

TAKINAS_INNOVATION

I think it will be interesting if Netflix can avoid the disaster of WBD. Pretty much every company that’s acquired them has done garbage. I trimmed my position in Netflix. I still trust management but this is their first major acquisition. We shall see if they integrate them well. I’m more worried about the culture. Netflix’s culture is way different than legacy media. It might be difficult integrating these two cultures together. Netflix has always acted like tech move fast and break things even though it’s a media company now.

jack3moto

If paramount gets ahold of WBD they will axe almost everything. Keep a few greenlit big projects and some HBO content going but 80% of the people working for WBD will be gone almost immediately. Last week tonight is contracted through 2026 but I have no idea what their costs are and whether they’d be kept past that.

Dangchang41

ORCL is down 40% since they first tried buying WBD in September.

Bagholder147

Netflix won't go thru this is about making the CEO of WBD rich. His options are priced between $30-$35 passed on a package he was awarded in 2021-2022.

CallMeBao

This is going to boom tomorrow Thank you WBD!

quamikazee

NFLX puts an offer on WBD - down Paramount hostile takeover bid on WBD - NFLX down WBD says will not pursue Paramount deal - NFLX up Everything makes perfect sense https://preview.redd.it/jq0bdnt08n7g1.png?width=1420&format=png&auto=webp&s=54b48bee38e9cad4201846b0bb42e65e1888a2b4

NonimiJewelry

The WBD position I posted if you had followed me on went from $3,000 - $900 - $16400. Just look at my post history.

East-Resolution4446

I’m thinking the same. Bought Netflix hoping Ellison would get WBD with those deep pockets.