from the Vox Media Podcast Network.

This is channels of Peter Kafka.

That's me.

I'm also chief correspondent at Business Insider.

And this is a bonus emergency podcast for very obvious reasons.

On Wednesday, everyone thought Netflix was going to buy or had a reasonable expectation that

Netflix might buy Warner Brothers Discovery.

On Thursday, we learned that they're not going to buy it, which means Paramount's going

to buy it.

Here to explain all of this is CNBC's Alex Sherman.

Welcome back, Alex.

Thanks, Peter.

You pretty much just explained it there.

Yeah, podcast is over. That's right. Thanks for doing it. When did, when did your perception go from?

Paramounts made it made a bid. Now Netflix is going to counter. That's what we all sort of thought was going to happen this week to.

Netflix is going to walk. Did you expect this?

Did you have an inkling, I guess, is a more polite way of asking?

I did not expect it to happen yesterday at all.

I actually got a call about 25 minutes before the announcement.

Well, I didn't get a call.

I was reaching out to sources, and I got one to call me back. And that was a plugged in person who told me it's over. Netflix is walking. And so you learned before the news was announced. I learned about 25 minutes before the news. Then I started frantically calling for a second source. Didn't quite get there in time for the announcement. I think, you know, just tweet it out?

Netflix, I should have just tweeted it out, but that's not the way we do things at CNBC. So, you know, I think I think Netflix at that point knew that I was on to the story and they were, I think they were already going to publish their thing anyways. But look, the whole thing caught me off guard, I will say. I don't think anybody was expecting this to happen, you know, the same day that Warner Brothers Discovery's board decided that the Paramount offer was superior.

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