On The Deals Shaping Our Economy
🎬 WBD Board Slams Door on Paramount
Warner Bros. Discovery (WBD) has unanimously rejected Paramount’s hostile $108 billion takeover bid, urging shareholders to stick with a competing offer from Netflix.
The big picture: The rejection escalates the battle for Hollywood’s future.
WBD’s board blasted the $30-a-share all-cash offer as risky, accusing Paramount of misleading investors about its funding.
Why it matters: It comes down to trust.
WBD claims Paramount's financing—backed by an Ellison family trust—is "illusory" and lacks a solid personal guarantee from billionaire Larry Ellison.
The Netflix factor: WBD prefers the $82.7 billion Netflix deal (stock and cash), despite it being a lower headline figure, citing regulatory confidence and "traditional window" commitments for theaters.
The Trump card: Politics are at play. Paramount is viewed as closer to the incoming Trump administration, while Trump has criticized the Netflix deal structure.
Kushner out: In a blow to Paramount's political optics, Jared Kushner’s Affinity Partners dropped out of the bid on Tuesday.
What they're saying: Netflix executives quickly praised the move, calling their deal "pro-consumer" and "pro-creator."
🌍 Putin Digs In; Starmer Seizes Oligarch Cash
Two massive escalations on the Ukraine front yesterday involving frozen assets and hardline rhetoric.
First: UK Prime Minister Keir Starmer is moving to transfer £2.5bn from the sale of Roman Abramovich’s Chelsea FC directly to humanitarian aid in Ukraine.
The funds have been frozen in a UK bank since 2022.
The UK government warns it will take Abramovich to court if he doesn't release the money, which he reportedly wanted to spend "more widely."
"My message to Abramovich is... the clock is ticking, honour the commitment you made and pay up now. If you don't, we're prepared to go to court so every penny reaches those whose lives have been torn apart by Putin's illegal war."
Second: In a defiant speech to defense officials, Vladimir Putin vowed to "liberate historic lands" and insulted European backers of Kyiv.
Putin dismissed compromise, claiming Russian forces hold the strategic advantage.
He predicted that European leaders opposing him would eventually lose power.
"Everyone thought they would quickly destroy Russia. The European swine immediately joined in... hoping to make a killing."
🇿🇦 Ramaphosa Withholds Interim Crime Report
South African President Cyril Ramaphosa will release the final report of the Madlanga commission into law enforcement corruption but has decided to keep the interim findings secret.
"We need to allow the process to be completed."
Driving the news: The Presidency cites national security and the integrity of the process.
Safety fears: The decision follows the assassination of whistleblower Marius van der Merwe.
The defense: Spokesperson Vincent Magwenya argued that releasing "half-baked" evidence could endanger witnesses who still need to testify.
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