Be Kind Rewind

The Netflix-Warner Bros. saga has officially come to an end.

Paramount Skydance has paid Netflix the full $2.8 billion breakup fee. It’s done.

Netflix declined to raise its $83 billion offer, calling the deal a “nice to have” at the right price, and walked away disciplined. Paramount stepped up with $111 billion for the whole company, and now they’re declared the winner.

But here’s the thing.

Now comes the hard part.

Paramount isn’t done just because they won the bidding war. They still have to clear regulators and navigate what could be a very uncertain path through Washington.

The Hollywood fight is over.
The government fight is just beginning.

This story is far from over.