Alex Sherman@sherman4949Quick lesson on breakup fees: If regulators block the Netflix/WBD deal, Netflix pays $5.8b to WBD. If Paramount tops a Netflix bid and WBD goes with Paramount instead, WBD pays Netflix $2.8b.Opens with an observation
Alex Sherman@sherman4949One thing we learned today is the Ellison family really totally behind the Paramount bid -- while the Ellisons are committing $12b in financing, $24b(!) comes from Middle East SWFs -- literally double the amount of the Ellison family. Paramount definitely didn't lead with that.Opens with an observation
Alex Sherman@sherman4949A new detail from the Netflix/Raw deal: For Netflix subs that don't get ads (the vast majority of y'all)... Raw matches will be scripted around commercial breaks. So you'll get some non-important match action (sustained headlocks!) instead of commercials. You won't get ads.Opens with an observation
Alex Sherman@sherman4949You’re going to hear a lot of flowery language out of WBD executives today, but the reason they’re splitting the company is they failed to convince Wall St that merging Discovery and WarnerMedia created any significant value relative to the debt that hovered over the company.Opens with direct address
Alex Sherman@sherman4949Netflix crosses the rubicon! It has reached a 10 year deal to stream WWE's Raw for more than $5 billion. Netflix takes the jump into sports/live entertainment. t.coOpens with an observation
Alex Sherman@sherman4949NBA update: The league continues to hold talks with Warner Bros Discovery on striking a deal, but what's most likely to happen is the NBA signs papers with NBCUniversal and forces $WBD to match. What happens then could become a legal matter. Story here: t.coOpens with an observation