Hollywood Week: Netflix Wins Bid, Ellison Cries Foul, FCC, Perry Doc Sentenced, Awards Season Begins

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Category: Haute This Issue

Published on Saturday, 06 December 2025 09:39

Written by Janet Walker

After two weeks of speculation, streaming giant Netflix has emerged the winner in the bid to acquire Warner Bros., Discovery studios, surprising analyst and industry insiders, with a bid appropriate for the storied studio's rich Hollywood history.

The Deal

The details for the $72 billion equity valued acquisition includes a $5.8 billion break-up fee should the deal fall through, offered $23.25 per share and $4.50 of Netflix common stock to the Warner Bros Discovery shareholders.

In the Netflix-WBD deal, Equity Value ($72B) is the total market worth of WBD's stock (what shareholders own), while Enterprise Value ($82.7B) is the full cost to buy the entire business, including its debt, minus cash, representing the total takeover price. The difference ($10.7B) accounts for WBD's net debt, showing Enterprise Value as the comprehensive figure for acquiring the whole company, assets, and liabilities. 

Hollywood Week: Paramount Skydance, Warner Bros, Virginia Giuffre Memoir, Diane Keaton, Ace Frehley

Pledges Loyalty to Historic Studio

"The letter, from WBD CEO David Zaslav, comes after Netflix announced its $82.7 billion acquisition of Warner Bros. early Friday. Netflix has said that it expects to maintain the current operations of Warner Bros. "including theatrical releases for films." Discovery will still be spun off into a stand-alone company, Discovery Global, with CFO Gunnar Wiedenfels to serve as CEO once the new company separates from WBD, which is expected to be completed in Q3 2026," reported The Hollywood Reporter.

As news of the deal filtered through the various unions, and organization directly related to the industry, many expressed concerns over the acquisition, others admitted it would increase production, which is good for talent and vendors who service the industry, and while the business leaders, those on the opposite side of the industry, may be explaining why the deal is a mistake for consumers, unfortunately that is a spin, as the deal will provide more opportunity for consumers, for production, and for those who the industry, as Netflix continues to grow its original content business.

The streaming giant currently has, at any given time, nearly 150 films in production, the acquisition will boost its output, significantly increasing its streaming content offerings, and then increasing its global expansion. The deal adds to their resources the Warner Bros. Motion Picture Group, including the main Warner Bros. Pictures, New Line Cinema, DC Studios, and Castle Rock Entertainment. In addition to these, the group also has a minority stake in Spyglass Media Group. As well as HBO/HBO Max, and the television studios.

Hollywood Week: Netflix, Skydance, Comcast, Bid for Warner Bros, Kimmel-Trump Wars, The Landman Hits

Hollywood Week: Disney/YouTube TV Deal, Jim Avila, Jimmy Kimmel Honors Cleto Escobedo

Ted Sarandos, Greg Peters, and David Zaslav Statements

Co-Netflix CEO's Red Sarandos, Greg Peters, and Warner Bros., Discovery Studio Chief David Zaslav released a joint statement which can be seen here.

"Our mission has always been to entertain the world," said Ted Sarandos, co-CEO of Netflix. "By combining Warner Bros.' incredible library of shows and movies—from timeless classics like Casablanca and Citizen Kane to modern favorites like Harry Potter and Friends—with our culture-defining titles like Stranger Things, KPop Demon Hunters and Squid Game, we'll be able to do that even better. Together, we can give audiences more of what they love and help define the next century of storytelling." 

"This acquisition will improve our offering and accelerate our business for decades to come," continued Greg Peters, co-CEO of Netflix. "Warner Bros. has helped define entertainment for more than a century and continues to do so with phenomenal creative executives and production capabilities. With our global reach and proven business model, we can introduce a broader audience to the worlds they create—giving our members more options, attracting more fans to our best-in-class streaming service, strengthening the entire entertainment industry and creating more value for shareholders."

"Today's announcement combines two of the greatest storytelling companies in the world to bring to even more people the entertainment they love to watch the most," said David Zaslav, President and CEO of Warner Bros. Discovery. "For more than a century, Warner Bros. has thrilled audiences, captured the world's attention, and shaped our culture. By coming together with Netflix, we will ensure people everywhere will continue to enjoy the world's most resonant stories for generations to come."

New York Film Critics Circle Announce 2025 Winners

Ellison Cries Foul

As David Ellison, billionaire son of Oracle founder Larry Ellison, who is accustomed to securing his pursuits, is crying foul and suggested the Netflix received more accommodating treatment throughout the two-week bidding process.

Ellison has also suggested that the FCC would never approve the Netflix acquisition. As Netflix is not acquiring any of the liner networks, no television programming, the FCC has little control over streaming services, which mutes the possibility of an FCC or anti-trust explosion of the deal.  

FCC? What FCC?

As the FCC, the Federal Communications Commission, was instrumental in assisting Ellison et al securing Paramount, after of course, a settlement was awarded to President Donald Trump from his defamation suit over the editing of a CBS interview, the FCC has no jurisdiction over streaming as streaming service usually fall out of the direct oversight of the FCC.

A simple Google search revealed that "Streaming services generally fall outside of direct, traditional FCC oversight because they're internet-based, not using public airwaves, meaning they aren't subject to rules like local content mandates or broadcast ownership caps that apply to TV/radio, though the FCC does monitor them as potential competitors and has considered extending rules, but currently, they operate with less regulation than traditional cable or broadcast."

Suggesting that Netflix could face Anti-Trust issues, which would derail the deal, seems unlikely as Anti-trust issues are based on several factors, including market share, which is usually closer to 70%, although 50% has often been suggested, consumer pricing, meaning the streaming giant would need to be in control of 60% of the streaming market and be able to gouge consumers, meaning adjust or raise prices which the consumer would have no control over. In the streaming market, the consumer has all the control; even within the Netflix pricing tiers, consumers choose the type of service they prefer.

The third usual marker of a monopoly is the barrier to entry, has Netflix stopped other competitors from entering the market? While the answer is simple, as every entertainment provider has transitioned to the living room experience, which became necessary during the coronavirus pandemic. Penalizing a company because they were ahead the curve isn't an Anti-Trust issue.

Hollywood Week: Matthew Perry/Ketamine Queen, Chloe Malle, Howard Stern, Venice Awards, Graham Greene

Matthew Perry News

Salvador Plasencia, the doctor who sold Ketamine to actor Matthew Perry, over a thirteen day period in 2003, in was sentenced this week to 30 months in prison for his role in the actor's death.

Perry, who was most widely known for his role on the 1990's NBC sitcom "Friend's," was found dead in his hot tub in October 2003. While his death shocked many, for Perry, 54, who had spent the previous year marketing his autobiography, "Friends, Lovers, and The Big Terrible Thing," which detailed his battle with his addictions, his death by overdose seemed an inevitability.

The star, who also starred in "17 Again," (2009), and "The Whole Nine Yards," (2000) by his own admission spent nearly his entire fortune, in cycles of drugs and alcohol, and then rehab. According to his memoir, he wrestled with his demons for nearly the entire 10 seasons he starred as Chandler Bing on the wildly successful sitcom "Friends."

"But Perry struggled with addiction throughout his career, by his own account. "You can track the trajectory of my addiction if you gauge my weight from season to season" he wrote in a memoir published the year before his death, recalling his time on "Friends": "When I'm carrying weight, it's alcohol. When I'm skinny, it's pills," The Washington Post reported.

Plasencia, who was recorded as saying, "I wonder how much this moron will pay," before supplying Perry the drug, has surrendered his medical license, once he is released from prison, he will also serve two years of supervised release, and has been ordered to pay of fine of $5,600.

New York Film Critics Circle Announce 2025 Winners

Spirit Awards

The Film Independent Spirit Awards were announced this week and along with the announcement for the 2025 Spirit Awards, came the announcement that the 41st annual Film Independent Spirit awards will be moving from their long standing Santa Monica home to the Hollywood Palladium, for the annual televised awards ceremony to be held on Sunday, February 15, 2026.

Peter Hujar's Day received five nominations; Blue Sun Palace, Lurker, Sorry, Baby and Train Dreams each received four, The Plague and Twinless each received three nominations.

If I had Legs, I'd Kick You received two nominations, and boosted Rose Byrne's possible Academy Award nomination, along with Director Mary Bronstein. "The Secret Agent," Brazil's International submission, also received a nomination, and boosted the film's chances of becoming short-listed for an International Film Oscar nomination.

A complete list of the nominees can be found here.

Eddie Murphy To Receive 51st AFI Life Achievement Award

NYFCC Picks

The New York Film Critics Circle, the oldest film critic association in the country, announced their picks for this years best in film entertainment.

One Battle After Another was awarded Best Film, Jafar Panahi was named Best Director for It Was Just an Accident; Rose Byrne was selected as Best Actress for If I Had Legs I'd Kick You; and Wagner Moura was chosen as Best Actor for The Secret Agent. KPop Demon Hunters was selected as Best Animated Film.

Full list of winners available here.

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.