Kalshi reacts by boomeranging Netflix back into the favorites position at 68% since Trump no longer has a dog in the fight.
Paramount's Davod Ellison’s hardball Warner Bros. tactics gave Netflix an opening For more than a year, David Ellison, son of Oracle founder Larry Ellison, and his acolytes have discussed buying Warner Bros., even before they had closed their last deal. Ellison spent $8 billion to buy control of Paramount in August, knowing it was damaged goods. The company, which owns its namesake studio, as well as MTV and Nickelodeon, had suffered from years of mismanagement that sapped the resources to compete in streaming. Its cable networks, which accounted for nearly all the company’s profit, are in terminal decline. The board’s (Warners) biggest concern was with Paramount’s offer itself. None of its first five bids topped the financial terms put forth by Netflix, which agreed to pay $27.75 a share in cash and stock after Warner Bros. spun off its cable networks to shareholders. Paramount had denied a press report about using financing from the Middle East, Warner Bros., concerned about the deal not passing muster under national security grounds, asked that Tencent not participate, and they were dropped. Kushner’s firm later dropped out on its own. Despite constant assurances that the offer was entirely backstopped by Larry Ellison, Paramount hadn’t provided documentation that satisfied Warner Bros.’ advisers. Warber BOD members are seeking assurances from Larry Ellison that he will personally guarantee the offer; The Ellisons are incredulous that anyone questions their financing. Warner Bros. and Netflix are advancing as though they have a done deal.
