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CNBC's "Fast Money"

The Battle For Warner Brothers Discovery… And The Outlook For Banks In 2026 12/22/25

CNBC's "Fast Money"

CNBC

Business, News, Investing

4.31.2K Ratings

🗓️ 22 December 2025

⏱️ 43 minutes

🧾️ Download transcript

Summary

Another chapter in the battle for Warner Brothers Discovery, as Larry Ellison steps in to back Paramount Skydance’s offer. How the father & son combo could help seal a deal, and where the development puts Netflix. Plus the financial sector just underperforming the broader market this year, but could 2026 see a bank breakout? Why one bank researcher says there’s big opportunity in small banks. Fast Money Disclaimer

Transcript

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0:00.0

Live from the NASDAQ market site in the heart of New York City's Times Square, this is fast money. Here's what's on top tonight. A new twist, Paramount Skydams making a major promise as it tries to reignite its bit for Warner Brothers. Will it help the companies succeed in what's the long-running battle for the media giant need for the industry? And banking on gains, Citigroup trading at levels not seen since the financial crisis.

0:21.6

JPMorgan and Bank of America setting records, but are more gains coming in the new year?

0:25.6

KBW's top bank analyst lays out his forecast.

0:28.6

Plus, shining bright, what is driving gold and silver to new highs?

0:31.6

Alphabet Incs a nearly $5 billion deal for an energy infrastructure company, and small caps hit all-time highs in the late

0:38.2

stages of the year but what's in store for 2026 our resident expert gives her outlook and a few

0:43.8

picks you might want to add to your portfolio right now i'm melissa lee live from studio b at the

0:48.7

naszac on the desk tonight steve grosso dan nathan guy adami and julie we start off with the

0:54.0

latest chapter in the battle for Warner Brothers Discovery.

0:56.6

WBD shares popping 3.5% today after Paramount Skydance beefed up its bid for the media giant, while the $30

1:02.9

share cash offer stays the same. Larry Ellison, the father, Peace Guy CEO, David Ellison, is stepping in,

1:09.2

personally guaranteeing over $40 billion in equity financing.

1:13.4

It comes almost a week after Warner advised its shareholders to reject Paramount's hostile bid,

1:18.2

setting concerns over the Ellison family's commitment to funding the deal.

1:21.7

Paramount's shares jumping over 4% a day.

1:24.5

Then there's Netflix, the streaming giant previously reaching an agreement to

1:27.6

buy Warner's film studio and streaming businesses, valuing those assets at almost $83 billion,

1:33.4

but shares falling more than a percent today, even after refinancing part of its $59 billion

1:38.0

bridge loan to bolster its bid for the company. So has Paramount Skydance pulled ahead

1:43.1

for the fight in the fight for Warner Brothers?

1:45.2

And what does it tell us about the media landscape right now? It's pretty convincing when

1:50.3

Larry Ellison steps in and says, you know what, we'll provide you the information. We'll give you

...

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