Netflix has gone all cash in its bid for Warner Bros — but investors aren’t convinced.

In this Media Play News × Next TMT episode, Daniel Frankel and David Bloom break down why Wall Street is questioning Netflix’s strategy even as the company doubles down. Larry Ellison has stepped in to personally guarantee financing on the Paramount–Skydance side, lawsuits are flying as discovery tactics ramp up, and a key tender-offer deadline is approaching — yet uncertainty keeps growing.

The conversation digs into why CNBC investors say they “don’t get it,” what Netflix’s stock reaction signals about market confidence, and why this moment feels less like a traditional merger debate and more like a structural shift in the media business. The hosts also explore how AI-driven content economics are quietly reshaping the value of long-form media, complicating consolidation just as deals get bigger and riskier.

Key topics include:

• Netflix’s all-cash Warner Bros bid

• Investor skepticism and stock-market reaction

• Paramount–Skydance lawsuits and discovery strategy

• Larry Ellison’s personal financing guarantee

• Tender-offer timing and deal pressure points

• Why this feels like Netflix’s next existential moment

• How AI is changing the logic behind media consolidation

Chapters

00:00 Netflix's Earnings and Strategic Moves

05:26 The Impact of AI and User-Generated Content

11:17 Warner Brothers Acquisition and Market Reactions

This week on Next TMT Talks, Daniel Frankel and David Bloom unpack a fast-moving media and telecom landscape where regulation, streaming strategy, AI, and franchises are all colliding.

The conversation begins with California pushing back on the FCC, as state regulators reinsert DEI-related conditions into Verizon’s $20B acquisition of Frontier — setting up a broader fight between federal authority and state power. From there, the episode moves through Hollywood, Wall Street, and Silicon Valley, examining how legacy franchises, streaming economics, and AI tools are reshaping the business.

Along the way, the hosts dig into Netflix’s theatrical strategy and earnings scrutiny, Disney’s Star Wars reset after Kathleen Kennedy’s exit, the growing influence of AI tools like Claude, and why streaming platforms are now delivering audiences once thought exclusive to linear TV.

The episode closes with reflections on Wikipedia’s role in a fact-fragmented world, Sundance’s AI reckoning, Paramount+’s breakout hit Landman, and what record-setting NFL streaming audiences signal for the future of sports media.

Topics:

• California vs. the FCC and state-level regulatory power

• Verizon–Frontier $20B acquisition and DEI conditions

• Federal preemption vs. state oversight

• Disney’s Star Wars franchise after Kathleen Kennedy

• Avengers trailers and franchise-driven attention

• Netflix’s theatrical strategy and earnings pressure

• Investor skepticism and Wall Street signals

• AI in media, including Anthropic’s Claude

• AI guardrails, warfighting concerns, and regulation

• Sundance and the unanswered questions about AI

• Wikipedia at 25 and the fight over shared facts

• Paramount+’s Landman and streaming visibility metrics

• Record-breaking NFL and college football streaming audiences

• The shifting economics of sports, streaming, and attention

Chapters:

00:00 Introduction to Technology, Media, and Telecom News

01:43 Verizon finally getting California approval to buy Frontier, DEI Policies

06:09 Star Wars franchise with the departure of Kathleen Kennedy

10:49 Netflix's Theatrical Strategy and Filmmaking Challenges

12:55 Disney's eye popping attention from a set of Avengers trailers

14:32 Netflix, Ted Sarandos commits to winning in theatrical exhibition

15:33 Matt Damon grouses that he and Ben Affleck had to tweak their script for The Rip for Mobile users

17:37 quarterly earnings today Netflix and three guesses what everyone's going to want to talk about

18:30 It's Wikipedia's 25th birthday

20:40 Sundance starts this week with an interesting doc on all the questions we should be asking about AI but aren't.

21:08 Pete Hegseth wants to know why he can't use Anthropix Claude AI tools to commit war like he wants

23:22 The Success of 'Landman' on Paramount Plus

23:47 Looper Insights says Paramount Plus's Landman, is the show of the month

25:52 Critique of Character Development in 'Landman'

29:41 The Evolution of Sports Broadcasting

Daniel Frankel and David Bloom break down CES takeaways, Golden Globes signals, Apple Vision Pro’s immersive sports moment, and why Netflix’s next move may require Warner Bros as AI reshapes content and competition.

Topics

• Streaming Media

• Media & Entertainment Industry

• Sports Media & Rights

• Advertising & Monetization

• Artificial Intelligence (AI)

• Media Regulation & FCC

• Netflix Strategy

• Broadcast Television

• Tech, Media & Telecom (TMT)

• Live Sports & Events

Chapters:

00:00 Introduction to Technology, Media, and Telecom Trends

01:23 Insights from CES and the Role of Agentic AI

07:06 Brendan Carr's Speech and Its Implications

09:22 Versant's Market Debut and Future Prospects

10:36 NBCUniversal's Legendary February and Advertising Strategies

13:02 Apple Vision Pro and Immersive Sports Experiences

17:59 The Impact of AI on Content Production

25:37 Netflix's Golden Globe Success and Future Strategies