The idea is that this is a political deal, not a business deal - by buying WBD, the Ellisons add CNN to a portfolio that already includes CBS and TikTok, and shaping coverage matters more to them than the stock price.
The idea is that this is a political deal, not a business deal - by buying WBD, the Ellisons add CNN to a portfolio that already includes CBS and TikTok, and shaping coverage matters more to them than the stock price.
If that's the case, shouldn't they have been able to work out a much cheaper deal with Netflix where they get CNN and Netflix everything else?
Probably hard to cut a deal like this with someone you are actively engaged in a hostile bidding war with.
I think this was actually on the table and rejected. Which is why the "control the narrative" argument is fishy, or at least missing something. And now having just defended Oracle I have to go take a shower.