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Hollywood actors oppose Paramount-Warner Bros merger
A-list actors, including Kristen Stewart, Ben Stiller and Lin-Manuel Miranda, have signed an open letter opposing Paramount’s proposed acquisition of Warner Bros. Discovery. The letter has over 1,000 signatures and said the merger would “further consolidate an already concentrated media landscape, reducing competition at a moment when our industries — and the audiences we serve — can least afford it”. It also said the merger would lead to fewer jobs, fewer creative opportunities, and fewer choices for audiences, and would cause costs to rise as the number of major Hollywood studios would fall to four. “Our industry is already under severe strain, in large part due to prior waves of consolidation,” the letter states. “We have witnessed a steep decline in the number of films produced and released, alongside a narrowing of the kinds of stories that are financed and distributed. “Increasingly, a small number of powerful entities determine what gets made — and on what terms — leaving creators and independent businesses with fewer viable paths to sustain their work.” The letter also suggested that the Paramount Warner Bros deal prioritises “the interests of a small group of powerful stakeholders over the public good”.
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Jeff Shell exits Paramount amid lawsuit
Jeff Shell will depart from his role as president of Paramount Skydance following a legal battle. This comes as professional gambler R.J. Ciprini asserted that Shell owed him US$150 million for crisis communications services and alleges the exec shared confidential information about Paramount in violation of securities laws. Paramount has issued a statement confirming Shell’s exit from the company and said it denied any wrongdoing on Shell’s part after conducting an independent investigation. “PSKY and its named Board members will respond in the proceedings to the frivolous and baseless claims against PSKY and its named Board members and stockholders,” the company said. “Consistent with Mr. Shell's commitment to prioritising PSKY's success, he has elected to transition from his positions as President of PSKY and a member of PSKY's Board of Directors to focus on this lawsuit.” Cirprini alleged that Shell shared a belief that Paramount is overpaying for Warner Bros Discovery with him. Paramount has an agreement in place to acquire Warner Bros for $111 billion, pending regulatory approval. Cipriani’s lawsuit also alleged Shell shared confidential info about Paramount Skydance, including advance word of Paramount’
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Superior Paramount bid ends Netflix–WBD talks
Warner Bros. Discovery has determined that Paramount Skydance’s latest bid is a “superior proposal”, prompting Netflix to walk away from the merger deal. Paramount has raised its bid to buy the entirety of Warner Bros to US$31 per share from $30 per share in its latest amendments to its multiple offers and hostile bids to buy the company. This came after Netflix granted Warner Bros a seven-day waiver to re-engage with Paramount, resulting in a higher bid. Paramount’s offer is for the entirety of Warner Bros, including its pay-TV networks, such as CNN, TBS and TNT. Netflix would have only bought the company’s studio and streaming business for $27.75 per share. Warner Bros gave Netflix four business days to make changes to its bid, but instead decided walk away from the deal. “The transaction we negotiated would have created shareholder value with a clear path to regulatory approval,” Netflix CEOs Ted Sarandos and Greg Peters said in a statement. “However, we’ve always been disciplined, and at the price required to match Paramount Skydance’s latest offer, the deal is no longer financially attractive, so we are declining to match the Paramount Skydance bid.” In response, Warner Bros CEO David Zaslav wished Net
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Apple and Netflix to drive together on F1
The motor racing series Formula 1: Drive to Survive will be available on Netflix and Apple TV under a new partnership between Netflix and Apple. The eighth series will be available on Netflix around the world and Apple TV in the United States only, the two companies announced on Thursday (Friday AEDT). Season eight will begin streaming around the world on Friday. Last October, Apple and Formula 1 (F1) announced a five-year partnership under which Apple TV will become the exclusive U.S. broadcaster of F1 in the United States, taking over from Walt Disney's ESPN for the 24 rounds of this season. “…as part of this collaboration, Netflix is also bringing the 2026 Canadian Grand Prix live to viewers in the U.S. from May 22-24, giving Drive to Survive fans a chance to see the rivalries they’ve watched for years play out in real-time,” Netflix said in an article. The F1 season begins with the Australian Grand Prix in Melbourne over the weekend of 7-8 March. Fans in the U.S. can watch the 2026 Canadian Grand Prix live on Netflix from 22-24 May. The popularity of F1 in the U.S. surged after the COVID-19 pandemic due to the scarcity of sporting events amid worldwide lockdowns. "We look at F1 and Apple TV as a true pa
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Netflix waives clause for WBD in Paramount talks
Netflix has granted a seven-day waiver permitting Warner Bros. Discovery to reopen talks with Paramount Skydance. Warner Bros. has a pending transaction with Netflix, but Paramount has launched a hostile bid of US$30 per share to Warner Bros shareholders after losing out to Netflix in the bidding war. “Netflix has provided WBD a limited waiver under the terms of WBD’s merger agreement with Netflix, permitting WBD to engage in discussions with Paramount Skydance (“PSKY”) (NASDAQ: PSKY) for a seven-day period ending on February 23, 2026 to seek clarity for WBD stockholders and provide PSKY the ability to make its best and final offer,” Warner Bros. Discovery said in a release. “During this period, WBD will engage with PSKY to discuss the deficiencies that remain unresolved and clarify certain terms of PSKY’s proposed merger agreement.” Paramount’s initial bid promised $30 per share, but the company’s leadership said it could go higher. Last week, the company sweetened the deal with additional enhancements but didn't raise the per-share value. However, Warner Bros has said a senior Paramount representative informed a WBD board member that it would pay $31 per share if deal talks were to reopen. Warner Bros presid

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Warner Bros weighs renewed sales talks with Paramount
Warner Bros. Discovery is weighing up reopening sales talks with Paramount Skydance Corp after receiving its most recent amended offer. According to Bloomberg, people familiar with the matter said that members of the Warner Bros board are discussing whether Paramount could offer a path to a superior deal in the bidding war against Netflix. The board is yet to decide how to respond and still has a binding agreement with Netflix. Paramount submitted amended terms last week that addressed several concerns. The company will cover a US$2.8 billion fee owed to Netflix if Warner Bros terminates their agreement and is offering to backstop a Warner Bros debt refinancing. Paramount also said it would compensate Warner Bros shareholders if the deal doesn’t close by 31 December, underscoring its confidence that the deal will get swift regulatory approval. While there are still some concerns about Paramount’s offer, this is the first time the Warner Bros board has considered that it could lead to a better deal or prompt Netflix to up its bid. Warner Bros had already agreed to sell both its film studio and HBO Max streaming services to Netflix for $27.75 per share. Paramount's initial bid promised $30 per share in an all
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Paramount sweetens, does not lift offer for Warner Bros
Paramount Skydance Corp has sweetened its rejected takeover bid for Warner Bros. Discovery (WBD) without raising its offer price. Paramount said it had added a ‘ticking fee’ in the form of extra cash for each quarter the deal failed to close and agreed to cover the breakup fee that WBD would owe if rival bidder Netflix walked away. But Paramount stopped short of raising its offer of US$30 cash per share, valuing the target at more than $108 billion (A$153 billion), which it believes is superior to Netflix’s offer of $27.75 per share cash offer for WBD’s studio and streaming assets. Paramount said it would add 25 cents to its offer for each quarter its transaction had not closed after 31 December, which is equivalent to $650 million. "The additional benefits of our superior $30 per share, all-cash offer clearly underscore our strong and unwavering commitment to delivering the full value WBD shareholders deserve for their investment,” Paramount Chairman and CEO David Ellison said in a news release. “We are making meaningful enhancements – backing this offer with billions of dollars, providing shareholders with certainty in value, a clear regulatory path, and protection against market volatility." In a news release,
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Washington Post publisher resigns amidst mass layoffs
Chief executive and publisher of The Washington Post, Will Lewis, has resigned, just days after shocking mass layoffs were announced for the outlet. Lewis took over the roles at The Washington Post in early 2024, but prior to that had a long-spanning career at Murdoch media institutions. His decision to walk away from the masthead, owned by Amazon billionaire Jeff Bezos, comes directly after huge staff cuts were announced, with nearly a third of staff laid off. During the meeting where these lay-offs were announced, Lewis was conspicuously absent, announcing his sudden resignation in a staff email. “All – after two years of transformation at The Washington Post, now is the right time for me to step aside,” Lewis wrote in the email, obtained by the Guardian. “I want to thank Jeff Bezos for his support and leadership throughout my tenure as CEO and Publisher. The institution could not have a better owner." Lewis has been succeeded by Jeff D'Onofrio, who has served as chief financial officer at the Washington Post since June 2025.
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Trump backpedals on criticism of Nexstar-Tegna deal
United States President Donald Trump has thrown his support behind Nexstar Media's proposed acquisition of Tegna, after previously criticising it. The deal, which was announced in August of last year and would come in at US$6.2 billion, came under fire from Trump as recently as November, saying it would be an “expansion of the fake news networks” and calling ABC and NBC an “illegal campaign to the radical left”. Nexstar currently has ownership or partnership of 200 news stations, and if the deal is successful, would take on 64 from Tegna. This would leave Nexstar with coverage of approximately 80% of the U.S. Trump has weighed in on the deal again this week, but with a surprising show of support, calling for “more competition against…the Fake News National TV Networks". “Letting Good Deals get done like Nexstar - Tegna will help knock out the Fake News because there will be more competition, and at a higher and more sophisticated level. Those that are opposed don’t fully understand how good the concept of this Deal is for them, but they will in the future. GET THAT DEAL DONE!," he wrote on a Truth Social post.