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WSJ Minute Briefing

Netflix to Buy Warner Bros. for $72 Billion After the Entertainment Company Splits Off Cable Networks

WSJ Minute Briefing

The Wall Street Journal

Business News, News

4.1671 Ratings

🗓️ 5 December 2025

⏱️ 3 minutes

🧾️ Download transcript

Summary

Plus: The Federal Reserve got one last inflation reading to consider—a moderate monthly increase in prices—before next week's interest-rate decision. And Southwest Airlines cuts its profit guidance for the year. Pierre Bienaimé hosts. Sign up for WSJ’s free What’s News newsletter. An artificial-intelligence tool assisted in the making of this episode by creating summaries that were based on Wall Street Journal reporting and reviewed and adapted by an editor. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

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0:28.6

real estate professionals. Here's your midday brief for Friday, December 5th. I'm Pierre Bienname for the Wall Street Journal.

0:39.9

First, we have an update on that Netflix Warner Brothers deal. Netflix has now agreed to buy Warner for $72 billion.

0:47.3

After the entertainment company splits its studios and HBO Max streaming business from its cable networks.

0:53.6

The cash and stock transaction was announced

0:55.5

this morning and values Warner Brothers discovery at $27.75 a share. According to people familiar with

1:01.9

the matter, Paramount had bid $30 per share in cash for the whole company and is now weighing its next move.

1:08.5

Paramount has argued that a Warner deal with Netflix would run into

1:11.8

antitrust hurdles, and a senior Trump administration official said that the president's

1:16.4

advisors are concerned about the deal. The Federal Reserve got one last inflation reading to consider

1:21.9

before next week's rate decision when it is widely expected to cut rates again. Its preferred

1:27.2

inflation measure held below 3% in September,

1:30.5

and the moderate monthly increase in prices suggests the central bank is unlikely to block

1:35.1

consideration of an interest rate cut. And Southwest Airlines has cut its profit guidance,

1:41.2

citing rising fuel costs and lost revenue due to the shutdown, when the

1:45.0

government restricted flights for 10 days. Southwest now expects earnings before interest and taxes

...

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