On Thursday afternoon, shortly after Netflix boss Ted Sarandos departed the White House following conferences with Donald Trump’s chief of workers and the Justice Department, the streamer issued an announcement beautiful the leisure business. Netflix, which was extensively anticipated to counter Paramount’s “superior” $31-per-share bid for Warner Bros. Discovery, abruptly declared the deal “no longer financially attractive,” abandoning its pursuit of the storied film studio and streaming operation altogether.
The sudden reversal clears the best way for David Ellison, the Paramount Skydance chief who has gone to nice lengths to sign to Trump that he’s an ally, to grab management of WBD’s sprawling portfolio of manufacturers. That contains Warner Bros. Pictures, HBO Max, and a slate of cable networks—most notably, CNN.
While the transfer all however ensures brutal layoffs throughout the corporate, it landed like a meteor at Hudson Yards. Inside CNN, alarm bells went off as staffers started to panic over the abruptly very actual prospect that they may very well be working for Bari Weiss earlier than the tip of the yr. Within minutes of the information crossing the wire, my cellphone lit up with messages…
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CNBC’s “Squawk on the Street.” (Screen seize by way of Snapstream/CNBC)
Shakeup at CNBC: Business information community CNBC introduced Thursday it was slicing almost a dozen staffers because it strikes to fuse collectively its tv and digital operations. The shakeup—coming simply months after the community’s spin-off from Comcast—contains the exit of managing editor Jeff McCracken and is a part of a broader restructuring beneath Editor-in-Chief David Cho that can see the launch of a…
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