Breaking News: Netflix Acquires Warner Bros. Discovery’s Film and Streaming Assets
Netflix has announced a significant deal to purchase Warner Bros. Discovery’s (WBD) film and streaming assets, marking a major shift in the entertainment industry. This acquisition is set to end the ongoing sale process that has been widely discussed in the media.
Under the terms of the agreement, Netflix will acquire WBD’s film studio and HBO Max streaming service. Meanwhile, Discovery will continue its spin-off of its TV network business, which includes brands like TNT and CNN. The deal involves a cash-and-stock transaction where Netflix will pay $27.75 per WBD share, resulting in an enterprise value exceeding $82 billion. The acquisition is expected to close after Discovery’s separation, which is anticipated in the third quarter of 2026.
Other companies, such as Paramount Skydance and NBCUniversal parent Comcast, also participated in the bidding process for WBD’s assets, which began in October. Reports indicate that Paramount attorneys questioned the “fairness and adequacy” of the sale procedures. Additionally, it was revealed that Comcast, the parent company of NBCUniversal, owns . Versant would become the new parent company of upon Comcast’s planned spinoff of Versant.
Meta Rebounds After Metaverse Unit Cuts Report
Meta Platforms experienced a notable rebound, with shares rising more than 3% following reports that CEO Mark Zuckerberg is planning to make cuts to the company’s metaverse unit. Bloomberg reported that executives are considering reducing the division’s budget by up to 30%, potentially leading to job losses within the virtual reality unit. Stephanie Link, chief investment strategist at Hightower Advisors, noted that such moves are typical for Zuckerberg.
Ulta Beauty Surpasses Expectations
Ulta Beauty saw a surge in shares, rising over 6% after exceeding Wall Street’s expectations in its third-quarter earnings report. The retailer raised its full-year profit and sales guidance for the second consecutive time, indicating higher comparable store sales growth than previously anticipated. Analysts suggest that Ulta is benefiting from continued consumer interest in beauty products, even as spending on other items declines.
Investigation into Federal Housing Finance Authority Director
The Government Accountability Office (GAO) is investigating Federal Housing Finance Authority (FHFA) Director Bill Pulte, according to a recent statement by the congressional watchdog. Senate Democrats had previously called for the GAO to probe Pulte, seeking to determine if he and FHFA employees misused federal authority and resources to accuse President Donald Trump’s opponents of mortgage fraud. Pulte has referred several Democrats to the Department of Justice, including New York Attorney General Letitia James, Sen. Adam Schiff, and Rep. Eric Swalwell.
Tesla Rises in Consumer Reports Ranking
Tesla made significant progress in Consumer Reports’ ranking of auto brands for 2026, moving up to No. 10 from 18th place the previous year. This improvement was attributed to increased reliability, according to Jake Fisher, senior director of auto testing at Consumer Reports. Notably, the Cybertruck was the only model with a below-average score. Subaru secured the top spot, followed by BMW and Porsche.
