Media industry
fromFast Company
1 week agoThe HBO brand doesn't deserve this
Paramount's acquisition of Warner Bros. Discovery will result in merging HBO Max with Paramount+, creating a streaming service with over 200 million subscribers.
Netflix co-CEO Ted Sarandos spent the morning at the White House. By evening, his company had issued a statement declining to match Paramount's $31-per-share bid for WBD—walking away from what would have been the most transformative media deal in years and handing David Ellison a portfolio that includes CNN, HBO, Warner Bros. Pictures, CBS News, and a cable library stretching from Seinfeld to Batman.