Elon Musk’s Twitter funds, Netflix with ads

Viewsroom

Reuters

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4.4 • 58 Ratings

🗓️ 28 April 2022

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

Tesla’s boss is close to clinching control of the social network, having secured financing from Wall Street. Breakingviews columnists discuss why the bet makes sense for banks in this Viewsroom podcast. Also, the streaming service’s subscriber pain may lead to bountiful change. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hi, just leave on work now. Sorry, it's a bit loud.
0:03.3	Um, basically, so I was thinking we could get Macies tonight. Had a big Mac on my mind all day, and delivery fee on the app is now from 99P. So you win? Of course you are. Love you. Bye! Exclusively on the McDonald's app. 18 plus, service fee and small order fee may apply. Participating restaurants. Serving times and teas and seas and fees apply. The views expressed on this podcast are those of the participants, not of Roalders' News.
0:26.8	Morgan Stanley's eyebrow-raising Twitter debt package and Netflix's change of heart on ad revenue.
0:44.4	Welcome back to the Views Room. I'm your host, Amy Donnellan, a columnist at Breaking Views coming to you from the suburbs of London. Well, it looks like he's nearly done it. Elon Musk has
0:50.7	convinced the Twitter board to accept his $44 billion takeover offer.
0:55.1	This is no doubt related to a $47 billion financing package that the CEO of Tesla has
1:01.1	managed to gather up. Morgan Stanley, Barclays, Bank of American others designed funding worth
1:06.2	$13 billion, as well as a $12.5 billion margin loan secured against Tesla stock.
1:12.9	It's a big bet given Twitter delivered a mere 1.5 billion EBIDA last year. Meanwhile, Netflix
1:19.4	is in experimentation mode. Reed Hastings, co-ceo of the streaming site, said last week that he
1:24.8	was open to creating a cheaper subscription model that would include
1:27.9	advertising to counter a drop-off in membership. The big question is how will he manage to do that
1:33.3	without cannibalizing his core subscription model? First, I speak to columnist Liam Proud in London
1:39.1	about Elon Musk's audacious financing for his Twitter bid. Next, I chat to Jennifer Sabah in New York about Netflix change apart on tweaking
1:46.9	its subscription model.
1:52.0	Hi, Liam.
1:53.2	Welcome back.
1:54.6	Great to talk to you today.
1:57.4	You've got a very interesting view on the bankers involved in pulling together the financing for this big Twitter deal that Elon Musk is pulling together.
2:07.2	So I particularly loved the start of your piece. It says, have Morgan Stanley bankers inhaled some of Elon Musk's favorite herb?
2:15.9	So Liam, tell us about that.
2:18.3	How should we think that they're doing something very out of the ordinary?
	...

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