WBD

Bagholder147

Y'all said the same thing about WBD. Yet it went through and they were 30bn in debt

Bagholder147

I wanted to be honest about it. Lol. It's a gamble but after seeing WBD go through anything is possible now. They were 80bn in debt .

Bagholder147

Just like WBD. Just buy calls and fuck both the companies..make money

Bagholder147

Dude fair value is $42-45 and they will have to pay a takeover premium of 23-30% . Posted some DD on it just now sure it will get hate or removed but calls or cheap. You missed WBD discovery and NOK when I said them don't miss this one. Love you regards. Let's make some money

johns2289

Why do i still have these crummy WBD shares? BEGONE!

aep2018

[Paramount completes WBD acquisition to become Skydance](https://www.mediaplaynews.com/paramount-closes-wbd-acquisition-to-become-skydance-corp-stock-down-more-than-1/)

akironman

Corteva $CTVA and Warner Bros. Discovery $WBD will be removed from the S&P 500

Bagholder147

He bought a lot of NFLX bonds and WBD bonds before the buyout

barbpatch

I got this WBD money ready to deploy on something regarded

Bagholder147

All for WBD and Data centers 😂

Odd_Wave_4541

Don't forget Oracle gets to spend another few dozen billion on the WBD acquisition in two weeks as well

Odd_Wave_4541

The Ellisons and Paramount taking out a metric fuck ton of debt to finance their $110B overpay for WBD could not possibly have happened at a funnier time

confusing_roundabout

Exactly the same here The only stocks I've made money on is WBD and IMAX because I'm a big movie guy and I actively follow industry news, and made some bets which to me were surefire hits (and were) Literally everything else has been a dumpster fire.

lipmanz

I saw dozens of articles and analyst opinions on why PSKY WBD wouldn’t go through in the past months

Rich-Badger-7601

Massive AI day yet ORCL barely managed to stay green due how badly they're gonna get fucked by the WBD merger lmaoooo

Odd_Wave_4541

lmao @ NFLX and DIS rising on the mutually assured destruction that the WBD/Paramount merger will bring to both HBO Max and Paramount+

fetchengretchen

WBD still up 👀. The price action is so confusing 

hiigara2

Should I sell my WBD stonks today?

fetchengretchen

What is going on with the huge jump for WBD? Trying not to fomo lol 

BrockDouken13

PSKY WBD merger may have a settlement tomorrow. Both stocks up in pre market 

STierMansierre

I like how the chances of that WBD/Paramount deal get slimmer by the legal team payroll minute but it's Netflix that gets the re-rate 🤡

ShadowLiberal

Yeah, Netflix basically flat out said that Paramount was run by a bunch of idiots who wildly overpaid for WBD. And WBD has been struggling with their huge pile of debt from the beginning after overpaying for the assets from AT&T. The dumbest part about it to me though is how Hollywood groups preferred Paramount get WBD even though there's a MUCH higher chance of job losses that way versus Netflix because there's way more redundant jobs with Paramount, and the massive debt load means that Paramount will be FORCED to layoff a ton of people just to cut costs.

Indianstanicows

Really not sure man, if you see May/June, it pumped like 50 dollars in 3 days. Remember, Ellison needs it to hit 200 for WBD. currently it would cap off to 143-145 today, still like 55 away from 200. Really don't know but something is up in the background with this one.

STierMansierre

That WBD deal really may not go through now. I wonder if a quiet Saudi pull-out factored in here considering the pipeline news and the geopolitical tensions now reintroduced to the region.

Indianstanicows

Probably not, he needs it to moon minimum $200 for the WBD, it will pump.

fomoandyoloandnogrow

I really really hope that the courts block the WBD paramount merger. Fuk those guys, my hbo cannot become geyramount

Sea_Local2557

i was going to short WBD on Monday

fredandlunchbox

The financing on that WBD might actually shit the bed if this keeps falling.

shmito17

So much fud about Ellison selling his shares. It's the exact amount needed to acquire WBD. He adopted the plan in June and set to end in October. If you're a shareholder of ORCL, do not fkn sell.

lipmanz

If the deal is off nobody told $WBD

FULLTHROTTLE034

$ORCL Larry Ellison Bad He Needs The Money To Close on Warner Bros $WBD Acquisition for his son through $PSKY

Efficient-Log-4425

I sold enough of the WBD calls to make a couple hundred percent even with some expiring worthless. As for SOXL, I think I got most out at a 20 bagger and the remaining are sitting at still up 10x. I can take some screenshot when I'm back around a computer if you'd like.

Sawyer_Anderson

Still hold UNH and sell calls against it to work down the basis. How’d holding those WBD calls into expiration treat you? And how much of that SOXL screenshot did you round-trip once the 3x beta slippage kicked in? You're welcome to post the updated P/L sheet. Now those bags you're holding? Fries with a Diet Coke.

BrockDouken13

Supreme Court taking up the merger issue on Paramount Skydance (PSKY) of Warner Brothers (WBD), 12 state attorney generals blocking this led by California AG Bonta. Has to respond to Supreme Court filing by 25th. SCOTUS is pro business on modern media definition, Bonta looks to be cooked. WBD payout get is $31 dollar payout potentially sooner then never now. Potential Arbitrage play based on time value of money. 

Bravadette

Wouldnt it be funny if 🥭 wanted that WBD merger so badly to try and stop the Musk doc lol

Happy-Champion1661

I was a proud NFLX calls bagholder at the start of the year dw I know how it feels. Enter at $95 and cut my losses at $90s earlier than my thesis (WBD bid) played out. As a value play I don't like it too much but it's also not bad

Happy-Champion1661

I tried to catch the falling knife on NFLX multiple times at the start of the year, mostly because there was the also the bid for WBD catalyst. However I exited before its conclusion / pumped back up at a small loss. Honestly it's not even worth losing my mind trading this shit, yes it's might be discounted compared to last year but idk it's not even that cheap still a good company to own long term probably but we dont buy and hold here sir

dvdmovie1

1) Stock is around $28.30 pre-market and $31 is the offer. So you hold on and wait for the 8.7% or so from that and any other payouts if the merger takes longer than anticipated. If the deal gets done, maybe it's finalized in Q127. 2) Sell. Personally, the majority of the time if something I own is being bought I sell (particularly if it's not all cash.) I know this is an all cash offer, but I don't know I just don't like the business. This is the third time Warner has been bought in the last few decades - the first was during the dot com, the second was T (who later spun if off) and then now this and the third time probably won't be the charm either. If the deal doesn't go through (I think it's more likely that it does, but if it doesn't) WBD gets a breakup fee which is good but you're still looking at a pure play media business that is facing off against AMZN/AAPL that can take losses on media because they have the massive streams of revenue that the studios don't. Also, if NFLX really wanted WBD they should have made an offer on it when nobody wanted it (and at one point not that long prior could have made an offer at half of what they did), not after Ellison had made an offer. Netflix had previously talked multiple times about not making such purchases, then when someone else made a (very rich) offer, they jumped in.

neckhairedover

I would hang on till it closes. Paramount and AG Bonta are most likely discussing settlement terms and as soon as that case is settled they'll be able to close quickly, everything else is in place. It is possible it drags on but the ticking fee is to compensate. It's possible it won't close but in that case WBD most likely gets 7B termination fee. The share price may drop but with the roughly 20B net debt they'd have by then I think they'll recover. Hopefully it won't be much longer.

athsrva

Yes this is disappointing from Bonta. hope he doesnt do the same in the WBD/PSKY case

krakends

This is much harder to win across the board at trial than an antitrust suit that is clear cut. If they don't buckle, WBD Paramount merger will not happen.

krakends

Big win for Bonta. Now please block the WBD and Paramount merger.

Sandvicheater

Last and this month the Odyssey and spider-man broke box office records so why are movie theater companies like AMC or CNK and studios like DIS, PSKY, WBD are either trading side ways or down badly for their 5 year charts?

glizzler

Puts on WBD?

glizzler

Looking at October 16 Puts $20 strike on Warner Bros (WBD) what do you regards think? They are cheap as hell

allStocksNews

While everyone is waiting on the merger $PSKY - $WBD - none of the large institutions in the deal are sellers. Therefor $PSKY could squeeze to $100 before trial ends.

Mail_Order_Lutefisk

Yes. If the states win then the bond would be returned in full, Paramount would have to pay WBD the break up fee (as increased by the ticking fee, if applicable) and Paramount would have to pay the costs and fees of the states.  If the states are the cause for the delay then it only seems fair for them to pay Paramount’s costs for it if the states lose. Paramount argues in the motion that they need the bond posted because Paramount wanted it adjudicated before Thanksgiving and the states resisted the short timeframe and the actual trial has thus been scheduled for spring of 2027, during which the $7 million fee will accrue every single day beginning on September 30. Paramount further argues that because the states have sovereign immunity, if Paramount prevails it will have no remedy against the states leaving the bond as their sole source of recovery.  The states will say they have a public interest in the matter and shouldn’t be required to post a bond. They will also argue Paramount waived the bond already by delaying the closing but Paramount argues they did that under the assumption they would receive a quick trial. I suspect this thing will settle before the September 26 court hearing and Paramount will announce that it is moving HQ out of California by next summer unless not moving is one of the conditions agreed to in the settlement. 

Intelligent-Dig-4082

The same paramount that cried wolf over the NFLX/WBD deal?

acegikmo21767

In this specific case, I find it hard to see how a combined Paramount - WBD would be more financially solvent with the massive acquisition debt.

Far-Web-165

I would have preferred ROKU stay independent. I sold most of my Roku shares since the stock is essentially range-bound by the fox buyout. However I did put about half of the sale back into FOX shares. My reasoning was that Fox got a fantastic deal on Roku given it's growth prospects. Fox was relatively fairly priced at the time but still suffered a steep drop on announcement. I think the addition of Roku improves Fox's growth prospects significantly and both companies will print money. So far it's been the right decision as my FOX shares are up over 20% since the buyout announcement, though the massive world cup win did help. Assuming the looming PSKY/WBD merger goes through I think there's potential for a combined FOX/ROKU to fill the void left by that merger as well.

BriackYOLO

Ticker is WBD, go get those puts.

MrBootyPops

This is a weird way to view things. NFLX took a beat after their announcement to buy WBD. It will recover after that and a couple other things. You cherry pick the 5 year mark but on average , NFLX far exceeds SPY returns. https://totalrealreturns.com/s/SPY,NFLX

ActJolly

WBD full port 0DTE Calls boys ts made nothing

GoonSquadCommand

WBD Nov 28c are the easiest 4 baggers on the planet

Interesting_Play_578

Do you remember how WBD was trading below $15 last year? Nobody's buying all of MU at the current price

BuySideSellSide

Ads and canceled series means subscriber base is gone. They make more money on ads than subscriptions, but they make no money on the people that don't want ads. There's also a new trend from people that are sick of the disappointment waiting until a series is finished before watching it, which makes it more likely a show gets canceled. If you are an investor and see show after show get canceled with subscribers dropping, wyd? $NFLX isn't going anywhere, but I like it a lot better closer to $WBD price of $26 than current prices because of their recent business decisions. Would probably scale in at $40 for the long term, but they're not doing anything impressive as of now.

mm_newsletter

The fee math is getting mixed up here. The $7B only applies if regulators kill the deal, and the ticking fee goes to WBD holders if closing drags past September. The EU cleared it last week. The debt is still ugly. Zero feels like a stretch.

tyk13r

Netflix is just gonna get WBD in a few years when they acquire Paramount for pennies on the dollar

jamiestar9

Should the merger be blocked the market will probably punish WBD severely, at least at first. But I don’t understand that view. WBD was doing quite well at paying down debt. HBO Max is arguably the strongest streaming service, at least as far as customer satisfaction goes. Netflix, declared the winner of the streaming wars, is now going through a period where subscribers are asking themselves why they remain subscribers with all the slop and price increases. Paramount would definitely be weaker. Disney and Hulu seem to be wandering aimlessly. To say nothing of the $7B that WBD suddenly receives! Recall that the original PSKY offer was an unsolicited offer. WBD had to entertain it only because the market had punished the stock to such ridiculous lows.

gls2220

Yep. This is how I figured it would go. The financing is based on Oracle's valuation and Oracle's balance sheet is shit right now and about to get a lot worse. Ultimately, I think Oracle will be fine, but it isn't hard to imagine some of these lenders getting nervous and backing out, especially considering the absurd price the Ellisons agreed to pay for WBD, which makes no sense at all.

Traditional-Way-4097

Just out of curiousity, Why is the Paramount + WBD merger bad but the Disney + Fox merger allowed?

GroundbreakingSir386

You’re right that shit was fire. There’s so many things in HBO and paramount, WBD that could be sold for hundreds of millions. Plenty of great IP that I’m sure Amazon, Apple, Netflix would be gobbling up

Remarkable_Cat_8696

Wouldn't this be free money if you buy WBD shares after Paramount starts to pay the ticking fee

Akraticacious

What happened? Paramount paid Netflix 2.8B to break up the deal with WBD? Which deal? Between Netflix and WBD? And it seems dumb to pay another company money for backing out of a merger.

Acrobatic-Flan-5085

I remember the kid Ellison complaining like crazy when WBD said the deal wasn’t good enough unless they had a guarantee of the funds from papa, who had to pledge Oracle shares. The kid and the media roasted WBD leadership for “playing games” It wasn’t a game, WBD understood the financial risk, but also had a fiduciary duty to maximize the purchase price. If paramount breaks, they may not be a zero but they will be seriously impaired. Meanwhile, Warner will probably just go back to Netflix lol

GroundbreakingSir386

Netflix is playing a long-term "4D chess" strategy pretty soon Netflix will buy both WBD and Paramount.

herefromyoutube

It’s crazy how many people predicted this if Netflix actually does end up getting it. I personally hope Apple swoops in with an offer to get that catalog since they actually try sometime and have a whole tech division to fall back on. Plus wouldn’t hurt my WBD shares I got at $9

GroundbreakingSir386

“Daddy, they won’t let me buy WBD.”😭

GroundbreakingSir386

Very true very true. I’m thinking about the breakup fee and ticking fees hitting the balance sheet likely will benefit them then I’m sure there will be another company to attempt acquiring WBD. Might be decent buy $20 or below.

greenpride32

WBD was \~$10 before the buyout noise started. If the acquisition does not go through, you're likely looking at 50-60% equity loss. The company is not doing well financially, and only has "value" due to desirable IP. So you're risking \~20-25% gain sometime in the future versus a potentially much steeper loss.

GroundbreakingSir386

Buying WBD might be a no brainer

greenpride32

>Won't the combined company technically retain those payments? The payments aren't going to the entity of WBD that is being acquired, it's going to the WBD shareholders. The (would be former) shareholders of WBD simply walk away with the cash in their pockets.

GroundbreakingSir386

Paramount is buying HBO through WBD.

Pyrrhic_Pragmatist

Not a smart person, but does the ticking fee even matter if the money goes to WBD and the acquisition goes through eventually? Won't the combined company technically retain those payments?

unholycowgod

Pretty sure it just gets added on to the purchase price, so WBD shareholders get it.

WiserPeople

Because David Ellison's dad is guaranteeing that loan against his Oracle net worth.  Since Larry is worth like 4-5x more than WBD that may have helped just a weeee bit.

YoTonoHo

Ohhh I thought Discovery was a separate company, forgot that it’s WBD and that’s how Zaslav became CEO.

Xzlk

NFLX wanted to buy WBD for half of what Disney is rn. Whats stopping them from just slowly acquiring Disney shares at this point? Hostile takeover going to happen. Especially when Disney inevitably drops another 20% from here.

Klutzy-Sea-4857

Solid breakdown. The WBD breakup fee inflating net income is the kind of thing casual investors totally miss when they see the headline number. AR growing 3x faster than ad revenue is the real red flag though - a classic sign of channel stuffing or weak collections. The Brazil tax situation is wild that it got zero airtime on the call. No position, by the way.

Sufficient_Habit5091

NFLX really messed up by not paying more for WBD. They have all this cash and don't know how to use it. That and the space is still too saturated, fractured to make it worth investing. There has to be more consolidation likely.

Sufficient_Habit5091

NFLX really fucked up by not paying more for WBD. They have all this cash and don't know how to use it. That and there still hasn't been enough consolidation to make this industry worth investing.

Information_Solid

If i didnt know any better this gives me paypal kinda vibe. Except this isnt god dam pain pal. I dont even know who to get pissed off at, CEO or market. Because the report wasnt so bad to deserve this drop. But the CEO did right on passing on WBD. Super conflicted.  Like is the market really thinking this company is suddenly becoming a blockbuster?

Rich-Badger-7601

20 future p/e relative to what though? We're in an era where even fucking Walmart is running a future p/e of 40 while still being down 20% from ATH at this point. Netflix is the biggest fish in a pond where all of the competition is actively hemorrhaging money attempting to do what Netflix already does profitably. Peacock has never had a profitable quarter, Apple TV has never had a profitable quarter, HBO is going down with the ship with WBD whether the deal goes through or not and even with Amazon subsidizing the fuck out of Prime Video they have to keep adding more and more ads just to make the numbers work. Even Disney+, which actually does make money but is also only doing 1/10th the revenue that Netflix is, stopped reporting their own subscriber counts earlier this year because of how great things are clearly going for them. Netflix as a still service is still ass in 2026 don't get me wrong, but they're still the 800 lb gorilla at what they do and two decades later nobody has figured out how to do what they do better than them without losing an absolute fuckton of money in the process.

Typingtext

They also said they will report less on engagement aka engagement is going down. Haven't you seen them exploring new areas to drive engagement? Live events, games, buying WBD, etc.

MitchCurry

NFLX make a public bid for WBD again so they can retract the bid and shoot up 15% again.

FartPolluter

lol warner bros ceo cashed out his shares before merger closing. He not only has no faith the merger will close but also no faith in WBD if the merger fails to close. Hollywood is dead, long live Silicon Valley

Cav829

At this rate WBD is going to put in an offer to buy Netflix.

Three_of_a_kind3515

NFLX calls.. I have the 75 calls expiration Friday.. no way Reed Hastings hands the reigns over to the new guy without a fan fair and great earnings. Hopefully, they see their stock as undervalued… and increase the buyback.. since stopping it to try to buy WBD.. which they received money for the deal being broken by Paramount.. who is now being sued in like 11 states for a monopoly… NFLX is golden, Pony Boy.. for Johnny. I feel it.

TAKINAS_INNOVATION

Netflix earnings today What I'm looking for besides them beating the numbers. 1. Advertising growth that needs to be up 2. Engagement can't be down that much 3. Management needs to clarify what they're doing with M and A. They said they were done after WBD and then went and tried to bid on Roku. 4. People say Netflix can't grow but people are looking at it from the wrong perspective. Netflix's future growth depends on turning into a media juggernaut with them expanding into merchandise and licensing, experiences etc etc. They said they're gonna do a K pop demon hunters tour so would like to hear more info on that.

Clueless5001

You may want to read the part under “breakup” https://en.wikipedia.org/wiki/AT%26T\_Corporation bottom line assuming the shares can be found, it really depends on when your mom’s shares were purchased how much they are worth and in which company they are in. Theoretically if they were bought before the breakup lawsuit, she may have shares in T, Verizon and Warner Bros Discovery as well as a couple of others. I do and I am about her age and they were bought in a UGMA or UTMA account in the 70s, although a straight trust account is always possible in your mom’s case. I also have shares in Vodaphone and Comcast and I am not sure if they are connected to T or how. I mention them specifically because IIRC Computershare is not the transfer agent for Vodaphone or Comcast’s but it is for Verizon and WBD. If the shares were bought after the breakup, different story. If you call Computershare, make sure your mom is the one on the phone. Any possible idea who was the trustee? One of your grandparents or your great grandmother? It may be helpful to have everyone’s social security number, their old addresses and if applicable, death certificates. If the trustee is still alive you may need them involved as well. Did you check in unclaimed property in your mom’s childhood state? I would check under everyone’s name. The issue is that it is not just the stock but potentially many years of dividends. I had pre breakup stock but my parents kept track of it and it was at Computershare after it was broken up into a bunch of companies in the 1980s My mom was the trustee under a UGMA account. I am probably around your mom’s age and while I always paid tax on the dividends on my taxes, I left it as a UGMA account in my mom as trustee since she liked dealing with it and I didn’t. I was able to keep track through an online Computershare account. I think my parents sent in the certificates many years ago, if they ever even had them, I have never seen them but this is not something I would have cared about in 1976. Then when my parents redid their estate plan a couple of years ago, I had to move the stock out of her name and into mine. Even with having all the information we ended up having to get a separate Medallion Guarantee for my mom’s signature (our local Citibank where we both had small accounts was very easy to deal with on this) for each company held at Computershare IIRC. Prior to moving it from a UGMA, one time after I called as the 50 year old beneficiary (my 20 something year old son’s UGMA was released to him after he turned 21 without much additional paperwork at one of the big brokers), they froze my online account. I had to get a notarized letter to unfreeze it although since it was a couple of years ago I do not recall the details of why but I was told by someone that my phone call triggered it since I was not the trustee. After it was finally moved to my name, I moved them as shares (without selling them) to my regular brokerage account at a large broker. It was not too bad, just a lot of paperwork for my mom to fill out

CardboardCompass

The $80 number checks out, straight from Lores's offer letter, stock hurdle set at $80 off a $42.58 baseline sometime between year three and five of his tenure. Also worth noting, WBD hasn't actually closed yet, it's trading around $27 right now because a handful of state AG's are suing to block it, so winning the bidding was doesn't mean trading at the agredd price for months. Good precedent either way, worth having the exact numbers before anyone leans on it.

Relative-Snow8735

The new CEO has a lucrative incentive package that doesn't start kicking in until the stock is somewhere above $80. That alone is likely going to drive him to want to get the offer price up. I think a very good parallel to look to is the WBD fiasco. The stock was under $10 and is now floating just below $30 thanks to a very aggressive bidding war. As a stand alone entity, WBD is not worth $10, let alone $30. But in a competitive market, consolidation can be leveraged to drown out competitors and in an environment like that it can make sense to overbid for assets like WBD to make sure your the one that stays on top. If Paypal can get a competing offer I think wee see a minimum of $100 a share once the dust settles. PYPL has a much cleaner balance sheet than WBD which could lend itself to support some fairly lofty bids.

Relative-Snow8735

I am hoping he goes out and gets a bidding war going with the intention of hitting those incentive milestones. PYPL is down because the payments landscape is so competitive. But consolidation can change the narrative quickly, similar to what happen with WBD. They went from being a dog of a company to being a key piece to consolidating the market once the bids started coming in.

Relative-Snow8735

If IV collapses on strikes above $60, it could make sense to buy a few lottery tickets on the chance that PYPL negotiates a higher purchase price or a competing bid emerges. Look at how WBD played out as an example. The stock was under $10 and is now pushing close to $30 once the bidding war finally settled. But yeah, if the current offer gets accepted and you are holding $60 calls, you are probably gong to lose money depending on how much you paid for those calls. I bought a few $50 LEAPs expecting something like this to happen, and if this offer goes through, those LEAPs are only going to be up \~25%. I would have made more just buying the stock.

waka_wear_art

AG Banda trying to make a name for himself as future California governor aspirations, but can't see the forest for the trees on this one.  Meanwhile he got a government 126 billion or so in the hole for a high speed train that goes non ideal places that people will never ride in San Joaquin valley to pay it back. The urban density is not in those places to justify.  Cable is dying and these companies are debt zombies trying to stay a float. This does nothing long term as the companies are much weaker on their own. Netflix would have carved the crap out of WBD with 1 season enshitification of content made straight to tv quality on DC comic book side quests.  He man, Moana, bomb after bomb in 100 million money lost on tentpoles by legacy studios that has nothing to do with mergers. 

Mail_Order_Lutefisk

Within ten years we will need to see NBCU, PSKY and WBD merged and local news production consolidated to one or two studios in most towns or else there will be rampant enterprise failures. The government has no idea what is happening in reality. A hypermammiferous 19 year old woman in a bikini draws more viewers than Larry King Live or Nightline drew at their peak. 

LivelyPants

It's official. In addition, the United Kingdom is currently reviewing the bid, posing several hurdles for the merger. Here is the timeline: * **July 14, 2026 (Foreign Subsidies Regulation):** The European Commission is independently auditing the **$24 billion** in Middle Eastern funding (including Saudi Arabia's PIF and the Qatar Investment Authority) backing David Ellison’s bid. If Paramount does not adequately restructure or transparently clear this cash track by July 14, the EU will legally trigger a **90-working-day Phase 2 freeze**. \[[1](https://www.hollywoodreporter.com/business/business-news/paramount-to-exit-uip-to-win-eu-approval-for-warner-merger-1236634547/), [2](https://www.reddit.com/r/MediaMergers/comments/1ueb6o8/eu_set_to_clear_paramounts_111bn_takeover_of/)\] * **July 22, 2026 (Antitrust Decision):** The provisional antitrust deadline was extended from July 7 to July 22 to give regulators time to evaluate formal concessions submitted by Paramount. \[[1](https://www.reuters.com/world/paramount-offers-remedies-warner-deal-making-eu-approval-likely-2026-07-01/), [2](https://finance.yahoo.com/media-advertising/articles/paramounts-110-billion-warner-deal-181530807.html)\] * **September 30, 2026 (The Financial Red Line):** If the deal fails to close by this date, a daily "ticking fee" of **$0.25 per share** kicks in, costing Paramount roughly **$600 million to $650 million per quarter** in penalties paid directly to WBD shareholders. \[[1](https://www.techtimes.com/articles/320257/20260712/state-ags-aim-block-paramount-wbd-despite-doj-approval-eu-clock-ticking.htm), [2](https://www.sportsmediawatch.com/2026/07/paramount-wbd-deal-reportedly-not-close-july-22/)\]

FartPolluter

Entertainment will consolidate either in big techs or big pure play companies (PSKY-WBD, DIS, NFLX)

FartPolluter

WIf and when PSKY-WBD merger goes through, they'll face serious competition

ZestycloseRun5895

\> The disconnect between the business performance and the stock price is almost entirely sentiment driven as Hastings leaving spooked people I would argue the following macro-economic trends have had more impact on Netflix’s stock than just 1 person leaving: \-Netflix and the wider streaming industry seeing volatile, even declining, engagement \-Launching a bid for WBD \-The paid streaming industry as a whole losing viewing share to YouTube and free alternatives \-Netflix not going into the AI race compared to its peers