Hollywood Week: Netflix Bids Adieu, WBD Signs with Paramount, BAFTA Slur, Nick Reiner, Katherine Hartley Short

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Category: Haute This Issue

Published on Saturday, 28 February 2026 09:25

Written by Janet Walker

The Netflix acquisition of Warner Bros. Discovery ended this week, as the streaming giant decided it would not be interested in topping the newest Paramount Skydance offer, and as quickly as the deal came together, it fell apart.

Netflix Bids Adieu to Warner Bros.

In a deal that began three months ago, with three suitors, Netflix was quickly chosen by Warner Bros./Discovery Chief David Zaslav as the perfect partner for the future of the centenarian studio. Before the ink had signed, Paramount Skydance Chief David Ellison, not accustomed to be told no, announced his intent to begin a hostile takeover.

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Fueled by his family fortune, Ellison's father, Larry Ellison is the founder of Oracle, a databased software company, and has an estimated net worth of $194 billion, the younger Ellison presented three unsolicited bids, beginning in September 2025, to purchase the entirety of the studios properties.

After WBD officially announced its intent to sell, Netflix quickly became the leader, and over in a holiday weekend, the deal was made. Netflix initial $87BN cash and stock offering, was accepted. Ellison continued his effort, even as Netflix Co-CEOs Ted Sarandos and Greg Peters, along with WBD Chief David Zaslav moved ahead with statements, announcements, tours, and congratulatory handshakes.

Ellison, who believed the purchase of WBD was critical to his vision for Paramount, continued presenting bids. After a total of nine bids beginning at $19 per share and finally reaching $31 per share, the newly minted CEO of Paramount Skydance presented a financially more lucrative deal to WDB shareholders, and a superior bid to Netflix $27.75 per share.

Netflix was given the opportunity to counter the Ellison offering. "Netflix said that it would not raise its offer to counter a higher bid made earlier this week by Mr. Ellison's company, Paramount Skydance, adding in a statement that "the deal is no longer financially attractive. This transaction was always a 'nice to have' at the right price, not a 'must have' at any price," the Netflix co-chief executives, Ted Sarandos and Greg Peters, said in a statement," The New York Times reported.

On Friday, February 27, Nasdaq reported Netflix Inc. (NFLX) said it received a $2.8 billion termination fee after Warner Bros. Discovery Inc. (WBD) terminated its merger deal to enter into a merger agreement with Paramount Skydance Corp. According to an SEC filing, WBD notified Netflix on February 26, 2026, that a revised proposal from Paramount Skydance constituted a "Company Superior Proposal" under the merger agreement.

The deal, no matter the suitor, has always created concern for theater owners. Ellison issued a statement indicating, "the company says that it will maintain both Paramount and Warner Bros. as independent studios, with a commitment to 15 films from each every year, with full 45-day windows before going to premium video on-demand, with longer windows for hit films," reported The Hollywood Reporter.

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Warner Bros Sign with Paramount

Ellison set the tone for his tenure as Studio Chief, if he sees it and wants it, there will be no obstacles to his acquiring it. Backed by his families unlimited resources, the Paramount Skydance studio chief has sent out a warning to executives, standing in the way of his tech expansion is pointless.

"One risk to losing the deal had been that a combined Paramount-Warner entity could pull popular content off Netflix to use for their own streaming offerings. But the merged company will now need all the cash flow it can muster to service a substantial debt load, so it is unlikely to fully turn away from the biggest payer in town," reported The Wall Street Journal.

As it is just business and not personal, Netflix may also have bitter resentment to the upstart fueled by his father's tech money and decide not to participate in the Paramount Skydance experience by refusing to stream WBD more popular titles for a period of ten years or more, concentrating on creating fresh and original content, as Netflix Co-CEOs, Ted Sarandos and Greg Peters understand the rules have changed and the singular goal is to remain as the global leader in streaming.

As Netflix continues to move the needle closer to 350 million worldwide subscribers, in the streaming business they are the king. The combined streaming power of the Paramount Skydance/Warner Discovery deal will elevate Paramount streaming power to 210MM subscribers.

Even as NBC/Comcast as lured Taylor Sheridan, a tentpole to Paramount streaming away from Ellison with a billion dollar payday, no deal is safe in the treacherous waters of the new Hollywood.

After the deal, which still has many regulatory hurdles to clear, the top two streaming companies in Hollywood will be Netflix and Paramount, pushing Disney now at 134 MM subscribers to third place in the streaming wars. For the Mouse House to boost its streaming numbers it will need to be creative, and use its massive, global Theme Parks, Resorts, and Cruises, and to build through special annual offerings.

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Nick Reiner Enters Plea

Nick Reiner, 32, the son accused of murdering his parents, the late Rob Reiner and Michelle Singer Reiner, entered a plea this week of "not guilty," in California Superior Court.

"Reiner is accused of fatally stabbing his 78-year-old father and 70-year-old mother sometime in the early morning hours of Dec. 14 at their Brentwood home, authorities have said. Their bodies were discovered in the master bedroom by their daughter roughly 12 hours later, and Los Angeles police arrested Reiner near a South L.A. gas station later that night," reported The Los Angeles Times.

Reiner, was has been incarcerated since his arrest on December 15, 2026, originally waived his right to a speedy arraignment.

After securing power defense attorney, Alan Jackson, who later explained a conflict of interest precluded his further participation, he removed himself from the case, and Reiner  is now represented by Deputy Public Defender Kimberly Greene.

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BAFTA Racial Slur Shocks Audience

The British Academy of Film Awards, which usually narrow the oddsmakers voting on the Academy Awards, held a series of surprises, upsets, and shocks.

Despite the acting award upsets, and surprises, there was nothing more shocking than the racial slur shouted by "I Swear" producer, John Davidson, who is diagnosed with Tourette syndrome, during the presentation of Best Visual Effects by Michael B. Jordan, and Delroy Lindo. It was a shocking profanity for such a storied and proper society. What is more disturbing is the fact that the BAFTAs failed to edit the N-word out of its telecast.

Davidson issues a statement, "I wanted to thank BAFTA and everyone involved in the awards last night for their support and understanding and inviting me to attend the broadcast. I appreciated the announcement to the auditorium in advance of the recording, warning everyone that my tics are involuntary and are not a reflection of my personal beliefs," [. . .] (A stage manager at the BAFTA Awards had introduced Davidson to the audience before the show and alerted guests that they may hear some "involuntary noises or movements" during the ceremony, according to Variety.)," People Magazine reported.

Tourette Syndrome of America describes the condition as "characterized by sudden, involuntary movements and/or sounds called tics. Tics can range from mild/inconsequential to moderate and severe and are disabling in some cases."

Unfortunately for those around the world, in both the British Commonwealth, and the international community who feel the generational sting from this slur and the historical connotation housed within its six letters, their only response, once again, is to maintain composure, hold steady, and live to fight another day.

On a different note, the continual use of the same word, in music, rap lyrics, films, and even the most nominated film in history, "Sinners," presents a societal acceptance of its use, in certain circles.

One wonders can we have both ways?

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Katherine Hartley Short, Daughter of Martin Short, Dies

Katherine Hartley Short, the daughter of actor and comedian Martin Short and his late wife Nancy Dolman, was found dead this week in her Hollywood Hills home. She was 42.

Her death, which has been ruled a suicide, was originally reported by TMZ. The Short family released a statement, "It is with profound grief that we confirm the passing of Katherine Hartley Short," the family said in a statement. "The Short family is devastated by this loss and asks for privacy at this time. Katherine was beloved by all and will be remembered for the light and joy she brought into the world," according to The Los Angeles Times.

Hartley-Short, a psychiatrist and social worker, with degrees from NYU, and USC, worked to destigmatize mental illness through the charity "Bring Change to Mind."

She was able to keep her deepening struggles with mental illness hidden as she continually placed the health and wellbeing of others above her own.

Her family asks for privacy during this time.

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Janet Walker is the publisher, founder, and sole owner of Haute-Lifestyle.com. A graduate of New York University, she has been covering international news through the Beltway Insider, a weekly review of the nation's top stories, for more than a decade.  A general beat writer/reporter and entertainment/film critic, she is also an accomplished news/investigative news/crime reporter and submitted for Pulitzer Prize consideration "Cops Conspire to Deep Six Sex Assaults" in the Breaking News Category and was persuaded to withdraw the submission. Ms. Walker has completed five award-winning screenplays "The Six Sides of Truth," "The Assassins of Fifth Avenue," "The Wednesday Killer," "The Manhattan Project," and the sci-fi thriller "Project 13: The Last Day." She has also published "Unholy Alliances: A True Crime Story," a non-fiction narrative, "Days, Times, Seasons, and Events: A Collection of Poetry & Prose," and "Songs of Freedom: A Collection of Biblical Teachings," which can be purchased here. She is a member of the Authors Guild, the Los Angeles Press Club, the National Writers Union, and a member of the International Federation of Journalists.